Paycheck Protection Program Loan Deadline is Aug. 8

As the Aug. 8 deadline approaches to apply for a small business loan through the Paycheck Protection Program (PPP), NAHB continues to urge Congress to extend the deadline and ensure broader builder eligibility under the PPP so that land developers, multifamily property owners and state and local home builder associations have access to this loan program.

The White House, Republicans and Democrats continue to negotiate on a new coronavirus relief package. In a victory for NAHB, the Senate and House have both proposed allowing 501(c)(6) organizations — which include state and local HBAs across the nation — to access the loan program. The Senate version is more restrictive than the House bill and NAHB is urging lawmakers to move the Senate 501(c)(6) language closer to the House provision.

As House and Senate leaders work to negotiate a compromise between the two bills, NAHB continues to urge lawmakers to include its housing priorities in the final package.

For more information, email Alex Strong.