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(SitNews) Washington, D.C. - U.S. President Joe Biden last week signed into law the  PPP Extension Act of 2021 - legislation introduced by U.S. Senate Committee on Small Business & Entrepreneurship Chair Ben Cardin (D-Md.) and U.S. Senators Susan Collins (R-Maine) and Jeanne Shaheen (D-N.H.) to extend the deadline for the Paycheck Protection Program to May 31. The bill also gives the U.S. Small Business Administration an additional month through June 30 to process any backlogged applications. “PPP has supported millions of small businesses through the pandemic, and it is clear that the program must continue to be a lifeline for small businesses and nonprofits,” said Senator Cardin. “It is vital that we in Congress continue working in a bipartisan manner to fine-tune PPP in the weeks ahead to make the program more fair and equitable.”

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