PPP Loans, Set to End Today, Extended to August

The Paycheck Protection Program was set to end today; however, on Tuesday, the Senate unanimously voted to extend the program five more weeks. The deadline to apply has been extended to August 8.

Companies with fewer than 500 employees can still apply for the remaining $130 million in unspent PPP funds.

The extension of the program is good news for the trucking industry, as some analysts suggested that struggling trucking companies might not be able to survive without the program.

The Covid relief bills appear to have bipartisan support — top republicans and democrats have voiced their support of providing aid to small businesses.