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July 6, 2020

FROM: Steven Davi

Steven N. Davi

Executive Director and General Counsel

COVID-19 Update: Paycheck Protection Program (Further Update)

Further to our advisory dated July 2 regarding the Small Business Administration’s Paycheck Protection Program, please be advised President Donald Trump signed legislation July 4 extending to August 8 the original June 30 application deadline for companies seeking federal Paycheck Protection Program forgivable loans.  You can view the text of the new bill here.  

According to the SBA, as of June 27, the construction sector ranked third among all industries in the dollar volume of PPP loans received at $64.3 billion. 

Please contact the Allied office directly if you have any questions.

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