Washington, DC – Today, Congresswoman Elise Stefanik cosponsored a bill introduced by Congresswoman Nicole Malliotakis (NY-11) to amend the Small Business Act and the CARES Act to extend the covered period for the Paycheck Protection Program until June 30, 2021. Currently, the deadline to apply for funds is March 31, 2021.
Congresswoman Stefanik issued the following statement: “More than $128 billion for small businesses through the Paycheck Protection Program remains, but the deadline to apply is less than 3 weeks away. North Country small businesses are still hurting, and it’s absolutely essential this bill is passed to give them more time to determine their loan amount eligibility, file an application, resolve any potential issues, and access these critical funds.”
"I've heard from small businesses all across my district that are still struggling to keep their doors open because of the city and state's arbitrary guidelines and closure mandates," said Congresswoman Malliotakis. "Many of these businesses are still filling out their loan applications, struggling to navigate the difficulties of the SBA system while also working to keep their expenses in check. My bill aims to ensure these small businesses have ample time to apply and receive the financial assistance they desperately need because of government inaction."