A two-month extension for the Paycheck Protection Program now heads to the President’s desk after the U.S. Senate passed legislation Thursday.

Dave Armstrong with GreenStone Farm Credit Services says some applicants who received first draw loan forgiveness under round one of the program are ineligible for it in this second round which now closes at the end of May.

“There was kind of a consequence to that,” he says.

He says as a farm credit lender, his company has never worked with the Small Business Administration before the pandemic and changes have occurred daily with programs which has been horrendous for small business owners.

…