Trump approves temporary expansion of emergency federal loan program
Washington: US President Donald Trump has approved the temporary expansion of the ‘Paycheck Protection Program‘ (PPP) to rescue small businesses affected by the Coronavirus (Covid-19).
The White House said on Saturday that loans can now be given through PPP until August 8. Earlier this law was in effect till 30 June.
The bill on lending to small businesses was passed by the Senate last Tuesday, while the lower house of the Congress (Parliament) (House of Representatives) was voted on Wednesday.