Congress has approved an extension of the Paycheck Protection Program (PPP), making it available for small businesses for a greater period of time. The PPP’s application deadline was originally set to expire March 31. Under the “PPP Extension Act of 2021”, small businesses can now apply for these loans for two additional months, through May 31. The Act passed both houses of Congress by wide, bipartisan margins and is expected to be signed by the President before the current deadline expires.
The PPP continues to be a vital lifeline for the golf industry during the pandemic. GCSAA has worked closely with other small business representatives to make sure Congress know this. Most recently, GCSAA signed a letter in support of extending the PPP program beyond the March 31, 2021 sunset date. We will continue to monitor how PPP is administered by the Small Business Administration to make sure that applications are being processed fairly and quickly. We will also work to make Congress continues to offer assistance to individuals and businesses, as needed.