More time for PPP
President Trump signed into law a bill that would extend the Paycheck Protection Program for an extra five weeks. The program had expired on June 30 with $130 billion in unused funds.
The National Lumber and Building Material Dealers Association was quick to applaud the extension.
“NLBMDA applauds Congress and President Trump for ensuring that small businesses will continue to have access to critical loan funding while Congress negotiates the next phase of economic relief,” said Jonathan Paine, NLBMDA President & CEO. “It is imperative that Congress and the Administration come together to pass a phase 4 relief package before the August recess to support lumber and building material dealers still struggling with the pandemic.”
Trump signed the bill into law on Saturday. The move extends the Paycheck Protection Program (PPP) through August 8, 2020.