PPP Extension Advances, Includes Federal Relief for Hawai‘i Small Businesses
US Senator Brian Schatz (D-Hawai‘i) today voted to pass an extension of the Paycheck Protection Program. Under the measure, the deadline to apply for a PPP loan would be moved from March 31 to May 31.
The bill passed the Senate, and according to Sen. Schatz, is expected to be signed into law in the coming days.
“Hawai‘i small businesses will now have two more months to apply for PPP loans,” said Senator Schatz. “This will give our local businesses more time to get help and access billions of dollars in new federal relief funding.”
Earlier this month, the president signed a new law that added $7.25 billion in new PPP funding to help small businesses and non-profits maintain their existing workforce and pay for other expenses like rent, mortgage, and utilities.
Hawai‘i small businesses and non-profits have received more than $1.1 billion in PPP loans so far in 2021, adding to the $2.5 billion Hawai‘i small businesses and non-profits received in 2020.
A full resource guide with details on how to access PPP loans and other federal relief available here.