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1 North Franklin
Suite 1200
Chicago, Illinois 60606
Phone: (312) 938-4070
Fax: (312) 540-1162

From the Press Room

Boodell & Domanskis, LLC - Chicago Business Law

$130 Billion in Payroll Protection Program (PPP) Funding Still Available

A REMINDER TO ALL OUR SMALL BUSINESS CLIENTS

Today, June 9, 2020 the Small Business Administration sent a reminder that more than $130 billion in Payroll Protection Program (PPP) funding is still available, with more flexibility on how it can be used. 

This means that PPP funds are still available for small businesses, independent contractors, nonprofits and tribal businesses whose operations were impacted by the Coronavirus outbreak. Now, the Paycheck Protection Program Flexibility Act extends the time to spend loan proceeds from eight weeks to 24 weeks and expands the percentage of funds that can be used for non-payroll expenses. The last day a PPP loan application can be approved is June 30, 2020. If you have not filed an application yet, now is the time to apply for a PPP loan.

If you need assistance navigating these uncertain times, please reach out to us. Our law office has remained open and continues to serve our clients. We are available by telephone, email and Zoom.

Should you have any questions or wish to schedule a consultation concerning the topics in this article, please contact Audra Karalius at akaralius@boodlaw.com.

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