WASHINGTON, D.C. – Today, U.S. Senator Jacky Rosen (D-NV), a member of the Senate Committee on Small Business and Entrepreneurship, released the following statement after voting to pass H.R. 1799, the bipartisan PPP Extension Act of 2021, identical companion legislation to a Senate bill Rosen co-sponsored earlier this month to extend the PPP application window through the end of May:
“During this challenging time, countless Nevada businesses have been able to stay afloat thanks to the Paycheck Protection Program,” said Senator Rosen. “I’m proud to vote in favor of this bipartisan legislation I co-sponsored to extend the deadline for small businesses to apply for a PPP loan and ensure more small businesses are able to access this relief program. I will continue to work in Congress to provide business owners and employees with the resources they need to overcome this period of economic hardship.”
BACKGROUND: Nevada is home to 280,000 small businesses.
The U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP) was set to expire on March 31, 2021.
The bipartisan PPP Extension Act of 2021 will extend the application window for PPP loans to small businesses through May 31, 2021, and provide an additional 30-day period for the Small Business Administration (SBA) to process applications that are still pending, through June 30, 2021. Earlier this month, Rosen announced her co-sponsorship of the bipartisan, Senate version of the PPP Extension Act of 2021 (S.723).
Since the inception of the Paycheck Protection Program in April 2020 until March 21, 2021, Nevada small businesses have received a total of 72,761 PPP loans, amounting to nearly $6 billion.
Small businesses that are experiencing difficulties navigating federal assistance can send their inquiries and questions to SmallBusiness@Rosen.Senate.gov, and a team of dedicated professionals will respond to provide assistance. Senator Rosen’s office is working around the clock to ensure Nevadans stay up to date on the latest news regarding the coronavirus, as well as provide a list of bilingual resources to assist Nevadans.