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Fed extends small business aid lending program by 3 months

Federal Reserve

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Ahead of its expiration date on March 31, the Federal Reserve Board announced on Monday that it is extending the Paycheck Protection Program (PPP) Liquidity Facility through the end of June, allowing continued distribution of funds through the PPP to small businesses.

The PPP was implemented under the CARES Act in March, and although it was intended to aid small businesses with 500 employees or fewer, a number of relatively large companies — including fast-casual chain Shake Shack — received millions in PPP loans, later returned. 

While the PPP itself is still set to details ⇒

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