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Federal Paycheck Protection Program Extended

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President Trump has signed new legislation extending the deadline for businesses to apply for a loan under the federal paycheck protection program.

Hours before it was set to expire on June 30th, congress passed the bill sending it to President Trump’s desk.

Paycheck protection was established in March as a part of the coronavirus relief bill.

Since then more than 4.8 million small businesses applied for $520 billion in potentially forgivable loans.

The federal government says there is $130 million left in the program.

The deadline to apply is now August 8th.

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