A bipartisan group of senators has introduced a measure that would double the number of weeks small business owners have to spend their federally backed loans from the Paycheck Protection Program.
, R-Fla., his panel counterpart Ben Cardin, D-Md., along with Sens. Susan Collins, R-Maine, and Jeanne Shaheen, D-N.H. -- would extend the loan period to 16 weeks and move the deadline to apply for a PPP loan from June 30 to Dec. 31.
Guzman does not know when she will reopen or be back at full steam, particularly as her business depends largely on tourism, which is at a record low, and with the convention center currently being used as a COVID-19 hospital. Sen. Marco Rubio, R-Fla., speaks to members of the press as he arrives for a vote at the U.S. Capitol, May 14, 2020 in Washington, D.C.Guzman applied for a PPP loan on the first day the program started and received funds from U.S. Century Bank in roughly 14 days. She said the federal lifeline helped her keep her salaried employees paid, though she was forced to let her hourly workers go.
Linda Silvetti and Ericka Griffin wait for customers as the Floridian restaurant opens on May 12, 2020 in Fort Lauderdale, Florida. MORE: Lawsuit seeks data on PPP small business loans as large companies face deadline to return funds
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