Press Releases

WASHINGTON, DC – Today, Congresswoman Lori Trahan (MA-03) supported passage of the Paycheck Protection Program (PPP) Extension Act, bipartisan legislation that will extend the highly successful PPP program and enable small businesses to continue accessing much needed financial relief as they keep their doors open and serve their communities.

“What small businesses in communities across the Third District have been able to do over the past year to stay open and continue paying their employees has been nothing short of incredible,” Congresswoman Trahan said. “The PPP Extension Act is a critical step in making sure they still have access to relief funding they need to continue serving their communities while we work to defeat this virus. I’m proud this legislation passed with strong bipartisan support, and I look forward to seeing it signed into law by President Biden following swift consideration in the Senate.”

Without action by Congress, the PPP program is currently set to expire on March 31st. The PPP Extension Act will extend that deadline to May 31st and give the U.S. Small Business Administration (SBA) the authority to process loan applications an additional 30 days prior to the new deadline. This will ensure that small businesses still working to keep their employees paid and on the job and their doors open will have access to this critical line of relief.

Since Trahan voted to establish the PPP program as part of the CARES Act in 2020, Massachusetts small businesses have been approved for more than 50,000 loans totaling more than $4.7 billion in relief. Trahan’s office has helped nearly 90 small businesses in the Third District alone in need of assistance with their PPP applications. For small businesses in need of additional relief, applications for PPP loans are still open.

###