U.S. Senate Passes Extension of Small Business Loan Program

Application deadline is set to expire by midnight Tuesday
House still has to act to extend the deadline until Aug. 8

Sec. Mnuchin Says Supports Extending PPP to Hard-Hit Businesses

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By Erik Wasson and Mark Niquette

July 1, 2020 at 12:45 AM UTC

Updated on

July 1, 2020 at 2:33 AM UTC

This article is for subscribers only.

The Senate has passed an extension of the popular Paycheck Protection Program for small businesses, which was set to close down Tuesday night with more than $130 billion in funding left over.

The extension to Aug. 8 was offered by Senator Ben Cardin, a Maryland Democrat, and cleared the chamber by unanimous consent. The House has yet to take up the bill and a Democratic aide said there would be no vote on Tuesday night.