PPP2 Application Date Extended to May 31

[JohnH]

Surprising how little publicity there seems to be about the extension of the March 31 PPP2 application date out to May 31. I would have expected this to be a big news item.

 

 

[TexTaxToo]

I read that the money would run out in a couple weeks, so without further Congressional action, the extension doesn't mean much.

[Lee B]

There is about $90 Billion left plus PPP Loan processing has almost ground to a halt due to the SBA's enhanced electronic screening

which has now rejected about 200,000 loan applications and sent the applications back to the lenders, which requires manual intervention

by the lenders for each SBA generated "error code"  This has given new meaning to the phrase, "Our government at work"!