Skip to content
Subscriber Only

Trump Administration Extends Deadline to Return PPP Loans

  • Firms now have until May 14 to repay loans without penalty
  • Firms with other resources told they likely don’t qualify
Steven Mnuchin
Steven MnuchinPhotographer: Al Drago/Bloomberg
Updated on

The Trump administration extended the date that companies can return loans from a popular coronavirus relief program without paying a penalty by one week to May 14.

The U.S. Treasury Department and Small Business Administration had set May 7 as the date for firms that had improperly taken loans from the Paycheck Protection Program to repay them, but said in updated guidance posted on Tuesday that it’s extending the deadline by seven days.