The deadline to apply for a Paycheck Protection Program loan was extended to Aug. 8.
The program had been set to expire June 30 and has approximately $130 billion in funding still available, according to the World Floor Covering Association. The extension was signed into law July 4.
The PPP has so far issued close to 5 million loans since beginning, delivering more than $500 billion in funds to businesses, NBC News reports.
A Goldman Sachs survey published July 14 found 84% of PPP loan recipients reported they will exhaust funding by the first week of August.
Only 16% of respondents in the survey stated they were confident they will be able to maintain payroll without further government relief opportunities.
The full survey results can be found here.
