PPP Extension Act of 2021
This bill extends the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), through June 30, 2021. Currently, the program is set to expire on March 31, 2021.
For the final 30 days of the program (i.e., from June 1 until June 30), the Small Business Administration may only process applications submitted prior to June 1, and it may not accept any new loan applications.
To amend the Small Business Act and the CARES Act to extend the covered 
  period for the paycheck protection program, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``PPP Extension Act of 2021''.

SEC. 2. EXTENSION OF COVERED PERIOD FOR PAYCHECK PROTECTION PROGRAM.

    (a) In General.--Section 7(a)(36)(A)(iii) of the Small Business Act 
(15 U.S.C. 636(a)(36)(A)(iii)) is amended by striking ``March 31, 
2021'' and inserting ``June 30, 2021''.
    (b) Funding.--Section 1102(b)(1) of the CARES Act (Public Law 116-
136), as amended by section 323 of the Economic Aid to Hard-Hit Small 
Businesses, Nonprofits, and Venues Act (title III of division N of 
Public Law 116-260), is amended by striking ``March 31, 2021'' and 
inserting ``June 30, 2021''.
    (c) Restriction.--From June 1, 2021, through June 30, 2021, the 
Administrator of the Small Business Administration shall not accept new 
lender applications for loans under paragraph (36) or (37) of section 
7(a) of the Small Business Act (15 U.S.C. 636(a)) and shall only 
process such lender applications that have been submitted to the 
Administrator before June 1, 2021.
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PPP Extension Act of 2021
A bill to amend the Small Business Act and the CARES Act to extend the covered period for the paycheck protection program, and for other purposes.
PPP Extension Act of 2021
Sen. Collins, Susan M.