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Paycheck Protection Program

Apr 1, 2021

PPP loans deadline extended to May 31

Businesses and banks received a two-month extension to apply for Paycheck Protection Program loans this week, as President Joe Biden signed legislation delaying the deadline for the latest round of PPP loans from March 31 to May 31. This week’s extension takes some of the pressure off bankers and businesses, says Steve Yeakel, president and […]

Virginia State Capitol. Photo by Conor Lobb, VCU Capital News Service
Feb 17, 2021

Business groups ask Va. lawmakers for higher PPP tax deductions

Virginia’s two legislative bodies have not yet agreed on an amount that Virginia businesses can deduct from federal Paycheck Protection Program loans they received last year, and how much of the loans they’ll have to pay state taxes on. Business groups are asking state lawmakers to allow higher deductions — especially for sectors like hospitality […]

Jan 18, 2021

Applications open Jan. 19 for new PPP round

The relief loan floodgates will reopen Tuesday, as the U.S. Small Business Administration opens the latest $284.5 billion round of Paycheck Protection Program (PPP) funding available.  This time, borrowers who received allocations during the initial rounds of PPP funding in 2020 can reapply under Second Draw PPP Loan applications. First Draw PPP Loans are for […]

Dec 14, 2020

PPP loans could make comeback in time for holidays

Congress could pass a third round of the U.S. Small Business Administration’s Paycheck Protection Program funding just in time for the holidays.  A bipartisan group of U.S. senators on Monday introduced a $908 billion coronavirus relief bill, including an estimated $300 billion set aside for another round of PPP funding. In April, the first $349 […]

Dec 2, 2020

These 16 Va. companies received $10M PPP loans

The U.S. Small Business Administration on Tuesday released additional information about all approved borrowers from its $659 billion Paycheck Protection Program (PPP) small business relief program, this time including exact company names, loan amounts, addresses and other information.  Previously, the government in early July had released an incomplete list of recipients, including only ranges of[...]

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