---
title: "PPP Loan Application Deadline Extended to August 8"
url: https://burnaze.com/article/ce107496-026d-41ee-a2fe-2b7e9985e188
source: "1851 Franchise"
original_url: https://1851franchise.com/ppp-loan-application-deadline-extended-to-august-8-2713420
category: "Finance"
topics: ["Finance & M&A"]
published: 2020-07-02T16:11:49.000Z
modified: 2026-11-01T02:27:37.460Z
image: https://newimage.1851franchise.com/cdn-cgi/image/quality=85,format=webp,width=1280,height=720/story/featureImage/b7de3bf9662cbefbb917ce3b918dce9b5228.jpg
---

# PPP Loan Application Deadline Extended to August 8

**TL;DR:** The application deadline for small business loans from the Paycheck Protection Program has been extended to August 8, giving small businesses an additional five weeks to apply for funding. The U.S. House of Representatives voted unanimously to extend the program, which had a $130 billion surplus in unallocated funding after its original deadline passed.

*originally published in 1851 Franchise on 2020-07-02. [Read the original](https://1851franchise.com/ppp-loan-application-deadline-extended-to-august-8-2713420).*

## Story

**The application deadline for small business loans from the Paycheck Protection Program passed on Tuesday,** **leaving the SBA with a $130 billion surplus in unallocated funding****. On Wednesday, The U.S. House of Representatives voted unanimously to** **extend the program until August 8****, 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.**

**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,** **Senator Marco Rubio tweeted** **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.**

## Entities

- 1851 Franchise (publication)
- General (sector)
- Congress (regulator)
- SBA (regulator)
- U.S. House of Representatives (regulator)
- small business funding (topic)
- coronavirus relief (topic)
- Paycheck Protection Program (regulator)
- congress legislation (topic)
- ppp loan extension (topic)

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Originally reported by 1851 Franchise (https://1851franchise.com/ppp-loan-application-deadline-extended-to-august-8-2713420). Summarized by Burnaze (https://burnaze.com/article/ce107496-026d-41ee-a2fe-2b7e9985e188).