1851

The application deadline for small business loans from the Paycheck Protection Program passed on Tuesday, <a href="https://1851franchise.com/the-ppp-loan-application-deadline-is-today-2713403">leaving the SBA with a $130 billion surplus in unallocated funding</a>. On Wednesday, The U.S. House of Representatives voted unanimously to <a href="https://www.cnbc.com/2020/07/01/house-passes-extension-of-coronavirus-small-business-loan-deadline.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=ppp-loan-application-deadline-extended-to-august-8-2713420" target="_blank" rel="nofollow">extend the program until August 8</a>, giving small businesses an additional five weeks to apply for funding.Legislators also passed a bill to adjust key provisions of the stimulus package, which was introduced in March to stave off the worst economic effects of the coronavirus pandemic. The new bill reduces the amount of funds businesses are required to spend on payroll and extends the amount of time they have to spend their loan.&nbsp;That the program’s original deadline passed with $130 billion still unspent may suggest that access to PPP loans is not the primary challenge facing small businesses as the coronavirus crises continues. On Tuesday, <a href="https://twitter.com/marcorubio/status/1278108887791669248?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1278108887791669248%7Ctwgr%5E&amp%3Bref_url=https%3A%2F%2Fwww.cnbc.com%2F2020%2F07%2F01%2Fhouse-passes-extension-of-coronavirus-small-business-loan-deadline.html&utm_source=1851franchise.com&utm_medium=article&utm_campaign=ppp-loan-application-deadline-extended-to-august-8-2713420" target="_blank" rel="nofollow">Senator Marco Rubio tweeted</a> that "the vast majority" of small businesses in need of a PPP loan "have already used it. What we really need to pass very soon is targeted help for those who need a second round of aid."To that end, Congress is considering whether to pass another, separate coronavirus relief package later this month.&nbsp;<a href="https://www.cnbc.com/2020/07/01/house-passes-extension-of-coronavirus-small-business-loan-deadline.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=ppp-loan-application-deadline-extended-to-august-8-2713420" target="_blank" rel="nofollow">Read more at cnbc.com</a>.

PPP Loan Application Deadline Extended to August 8

1851 Franchise

The extension provides an additional five weeks for small businesses to apply for their share of $130 billion in remaining funding.

ppp-loan-application-deadline-extended-to-august-8

TruBlue Home Service Ally

Why TruBlue is the Ideal Franchise for Multi-Unit Owners: Scalable Growth With a Purpose

why-trublue-is-the-ideal-franchise-for-multi-unit-owners-scalable-growth-with-a-purpose

Onigilly Japanese Kitchen

Koji Kanematsu Turned a 2,000-Year-Old Japanese Staple Into One of the Most Scalable Restaurant Franchise Models

koji-kanematsu-turned-a-2000-year-old-japanese-staple-into-one-of-the-most-scalable-restaurant-franchise-models

Lindora

Celebrating the Nurse Behind the Mission: How Melinda Endricks Is Powering Lindora’s Growth and Impact Nationwide

celebrating-the-nurse-behind-the-mission-how-melinda-endricks-is-powering-lindoras-growth-and-impact-nationwide

Sola Salons

Sola Salons Targets Chicago for Strategic Franchise Growth

sola-salons-targets-chicago-for-strategic-franchise-growth

Melting Pot

Photo of Melting Pot white chocolate fondue

How Melting Pot Franchisees Drive Year-Round Success Through Strategic Promotions and Local Marketing

melting-pot-franchise-year-round-success

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

DoorDash Expansion Could Reshape Delivery and Operations for Franchise Brands - 1851 Franchise

DoorDash Expansion Could Reshape Delivery and Operations for Franchise Brands

doordash-acquistions-deliveroo-sevenrooms

Crumbl Franchise Investment - TSG Consumer Partners -  1851 Franchise

TSG Consumer Partners Takes Minority Stake in Crumbl, Signaling Franchise Growth Potential

crumbl-franchise-investment-tsg-consumer

Yum Brands Reports Strong Q1 Results with Big Boost from Taco Bell

yum-brands-reports-strong-q1-results-with-big-boost-from-taco-bell

QSR: McDonald’s Gains Momentum With Chicken Innovation, Value Deals and Franchisee Support

mcdonalds-franchise-recovery-chicken-strategy-value-deals-2025

The Future of Franchising: Trends and Predictions for 2025 and Beyond

the-future-of-franchising-trends-and-predictions-for-2025-and-beyond

Layoffs Surge to Pandemic-Era Highs, Opening Doors for Franchise Growth

layoffs-surge-to-pandemic-era-highs-opening-doors-for-franchise-growth

Franchisee spotlight image with Randy and Sandy Craft, Children's Lighthouse logo on blue background

The Crafts’ Successful Journey from New Parents to Children’s Lighthouse Franchisees

the-crafts-successful-journey-from-new-parents-to-childrens-lighthouse-franchisees

District Taco Franchise Costs, Fees, Profit and Data for 2025

franchise-deep-dive-district-tacos-franchise-costs-fees-profit-and-data

Franchisee spotlight image with photo of Robert Trujillo and UWRG logo on blue background

How Robert Trujillo Expanded His Construction Business With UWRG

how-robert-trujillo-expanded-his-construction-business-with-uwrg

Health Care Professional in the Non-Profit Space Brings TruBlue to North Pittsburgh

health-care-professional-in-the-non-profit-space-brings-trublue-to-north-pittsburgh

The Ultimate Guide to Selling Franchises: Building Your Brand’s Growth Machine

ultimate-guide-to-selling-franchises

PPP Loan Application Deadline Extended to August 8

MORE STORIES LIKE THIS