PPP Application Extension to August 8th

July 7, 2020


The Paycheck Protection Program (PPP) application date has been extended until August 8, 2020 by the Federal Government. PPP loans provide a direct incentive for small businesses to keep their workers on payroll, and eligible small businesses and non-profit organizations apply directly through  participating lenders.


As a reminder, small businesses are eligible for loan forgiveness if all employees are kept on the payroll for eight weeks and at least 60% of the loan was used for payroll expenses. Loan amounts are calculated as up to eight weeks of average monthly payroll (based on 2019 figures) including benefits, plus an additional 40% of that amount used for rent, mortgage interest, or utility payments made before February 15, 2020, up to a maximum of $10 million.


Check out the Pace SBDC’s PPP webpage or contact a Pace SBDC Business Advisor at sbdc@pace.edu with any PPP application questions. For your reference you can also go to links to the revised PPP application, a new PPP EZ Application, and the PPP loan forgiveness application.


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Pace University SBDC

163 William Street, Room 328

New York, NY, 10038   


Office:  (212) 618-6655

Email:  sbdc@pace.edu


A, C, J, Z, 2, 3, 45 to Fulton St

E to World Trade Center
6 to Brooklyn Bridge


Partnership Program with the SBA, administered by the State University of New York. Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.  All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. All SBA funded programs are extended to the public on a nondiscriminatory basis.

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