July 23, 2020
Now that I have 24 weeks available for my Covered Period, can I apply for more PPP money?
Posted by Armanino Financial Advisory Team
No, you cannot. The purpose behind the extension to 24 weeks was to give businesses a better opportunity to spend the entirety of the PPP loan they were originally granted. By SBA rules, lenders are not permitted to make any further disbursements on PPP loans once they have filed Form 1502 with the SBA, which was required to be submitted by May 29.