PPP Deadline Extended to Aug. 8

Jul 02, 2020
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.

1 Comment

  1. 1 Uche 22 Jul
    Please I have a question about these loan. Suppose someone gets approved for the EIDL loan and you sell your business before the 30 year loan period, what happens ?
    Would you have to repay the loan right away or would the loan be transferred to you personally and you be allowed to continue to pay monthly ?

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