Planned PPP Extension Would Alleviate Scramble for Loans

A planned two-month extension of a popular pandemic relief loan program would lessen concerns that several late-in-the-game changes, combined with bureaucratic hiccups, would freeze many small businesses out.

The Paycheck Protection Program, established last March and revived in January with a fresh round of funding, offers government-backed small business loans that can be forgiven if used to cover employee salaries and other approved expenses. Nearly $120 billion in funding remained as of March 7, but under current law, March 31 is the final day for the Small Business Administration to approve funding for PPP loans.

As that deadline ...