WASHINGTON, D.C. — U.S. Senator Shelley Moore Capito (R-W.Va.) today voted to extend the deadline for businesses and nonprofits to apply for loans through the Paycheck Protection Program (PPP) to May 31, 2021. Senator Capito co-sponsored the Senate companion legislation providing for the extension.
“The PPP has been a lifeline for small businesses in West Virginia and across the country,” Senator Capito said. “Extending the PPP application deadline from will allow small businesses additional time to access critical relief needed to stay afloat while providing the SBA additional time to process applications. I was proud to join my colleagues in voting for this legislation that will provide small business owners the flexibility they need to utilize these funds in a way that makes the most sense for their business during this time.”
In West Virginia, the PPP has led the authorization of more than $639 million in small business relief. Nationwide, the PPP has led the authorization of nearly $1 trillion in small business relief, including over $800 billion for PPP during the coronavirus pandemic. In West Virginia, nearly 9,000 loans were distributed. Nationwide, more than 5.2 million businesses received forgivable PPP loans in 2020, which kept tens of millions of Americans on payroll through the worst of the public health restrictions.
More details on the PPP Extension Act of 2021 available here.
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