As of May 2, the PPP had given out nearly 10.8 million loans worth more than $780 billion since April 2020. The program, which has run out of cash and been refunded by Congress twice before, was scheduled to expire May 31.

Is PPP money gone?

Most of the money is already gone. As of Friday, only about $3 billion was left of the $800 billion provided for the program, according to congressional staff. The Small Business Administration has approved more than 11 million of the loans over the course of the program.

Is PPP coming back July 2021?

On June 25th, the Federal Reserve Board announced (Off-site) it will extend for a final time its Paycheck Protection Program Liquidity Facility (PPPLF) by an additional month to July 30, 2021. ... The PPPLF extends term credit to financial institutions making PPP loans, accepting the PPP loans as collateral.