This week, Congress passed legislation extending the deadline for small businesses to apply for a Paycheck Protection Program (PPP) loan. The new deadline to apply is August 8, 2020. The President is expected to sign this legislation into law.
The original deadline for PPP was June 30, but the program still has about $130 billion available. If you use at least 60 percent of PPP funds you receive to cover payroll costs, along with other criteria, PPP loans are eligible for forgiveness.
More information on the Paycheck Protection Program please review our CARES Act FAQ
. You can also view our latest CARES Act webinar
to learn more about how other recent changes may impact your pharmacy.
Questions or Concerns? Contact IPC's Government Relations Team at: GovernmentRelations@ipcrx.com