Paycheck Protection Program Extension Signed Into Law

An extension of a $660 billion lending program in an effort to help small businesses hit hard by the coronavirus pandemic has been signed into law. The law keeps the Paycheck Protection Program (PPP), which expired last month, operating through Aug. 8.

Businesses with fewer than 500 employees — including sole proprietors, independent contractors, and other self-employed individuals ­— all qualify for PPP loans. Most real estate brokers and real estate firms are therefore likely to qualify. 

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