CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
Policies & IssuesJul 07, 2020
Paycheck Protection Program Deadline Extended
The Treasury Department and the Small Business Administration also released more information about where the PPP money went.
President Donald Trump signed a temporary extension of the Paycheck Protection Program into law, extending the application deadline to Aug. 8 from June 30.
Washington, D.C.—President Donald Trump signed a temporary extension of the Paycheck Protection Program into law Saturday, pushing back the deadline for small businesses to apply for a loan.
The legislation moved the deadline to Aug. 8 from June 30.
The extension received approval both in the Senate and the House.
The program was first signed into law in March as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which provided $2 trillion in aid to keep small businesses afloat during the COVID-19 pandemic.
Set up by the Small Business Administration (SBA), the PPP offers forgivable loans to cover payroll for small businesses with 500 or fewer employees.
The program ran through its $350 billion in funds as applications piled up and was replenished with an additional $310 billion.
In June, Congress passed the Paycheck Protection Program Flexibility Act with the goal of addressing the problems that plagued the program’s rocky rollout.
In its opening days, the PPP was fraught with issues for banks and businesses alike and took heat after reports that money was going to big business as mom-and-pop stores struggled.
Hundreds of publicly traded companies received millions in coronavirus aid earmarked for small businesses.
The backlash led recipients Shake Shack and Ruth’s Chris Steak House to return the millions they had received from the program.
Treasury Secretary Steven Mnuchin spoke out against the big businesses receiving funds at a White House briefing, and the SBA followed by issuing guidance to deter that from happening again.
Mnuchin initially said the White House would not disclose the names of program participants, though Democrats continued to push for more transparency.
The Treasury Department and the SBA then said they would release the names of businesses who received PPP loans of $150,000 or more, sharing that partial list Monday.
While loans for more than $150,000 represent around three-fourths of the total loan dollars approved, that segment represents a minority percentage of the total number of loans.
Nearly 87 percent of loans approved were for less than $150,000, as per the SBA. The average loan is for $107,000.
“Today’s release of loan data strikes the appropriate balance of providing the American people with transparency, while protecting sensitive payroll and personal income information of small businesses, sole proprietors, and independent contractors,” Mnuchin said in a statement.
By industry, the largest share of PPP money went to health and social assistance, professional, scientific and technical services, construction and manufacturing.
The retail trade came in
sixth, sending in 450,181 applications and receiving $40.36 billion, or nearly 8 percent of net dollars.
By state, California received the most money with $68.2 billion, for about 4.1 million employees.
Texas is in second place with $41.1 billion and 2.7 million employees, followed by New York at $38.3 billion and 2 million employees.
Small businesses, as defined by the U.S. Census, employ 59.9 million people in the U.S.
Between 72 percent to 96 percent of estimated small business payroll was covered by PPP loans across all 50 states, said the SBA.
Companies in rural areas received 15 percent of the funds while those in areas the SBA described as economically distressed received 23 percent of the money.
“Today’s data shows that small businesses of all types and across all industries benefited from this unprecedented program,” said SBA Administrator Jovita Carranza in a statement.
Carranza pointed to last week’s improved unemployment numbers as evidence that “PPP is working by keeping employees on payroll and sustaining millions of small businesses through this time.”
The SBA said it approved 4.9 million loans, totaling more than $521 billion. There are $131.91 billion in funds remaining.
By state, California received the most money with $68.2 billion, for about 4.1 million employees.
Texas is in second place with $41.1 billion and 2.7 million employees, followed by New York at $38.3 billion and 2 million employees.
Small businesses, as defined by the U.S. Census, employ 59.9 million people in the U.S.
Between 72 percent to 96 percent of estimated small business payroll was covered by PPP loans across all 50 states, said the SBA.
Companies in rural areas received 15 percent of the funds while those in areas the SBA described as economically distressed received 23 percent of the money.
“Today’s data shows that small businesses of all types and across all industries benefited from this unprecedented program,” said SBA Administrator Jovita Carranza in a statement.
Carranza pointed to last week’s improved unemployment numbers as evidence that “PPP is working by keeping employees on payroll and sustaining millions of small businesses through this time.”
The SBA said it approved 4.9 million loans, totaling more than $521 billion. There are $131.91 billion in funds remaining.
More on Policies & Issues
The Latest
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
Weekly QuizMay 28, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
CollectionsMay 28, 2026
Meet The 17 Newcomers to Couture’s Design AtelierThese up-and-coming jewelry brands are bringing their distinct aesthetic and unique point-of-view to the Design Atelier for the first time.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
GradingMay 28, 2026
GCAL By Sarine Launches 8X Cushion CutThe lab’s proprietary diamond cut grade has been expanded to include the popular fancy shape.
Events & AwardsMay 27, 2026
5 Security Tips for Las Vegas Jewelry Market Week 2026This year, it’s what could happen outside of show hours that worries JSA Executive Vice President Scott Guginsky.
ColumnistsMay 27, 2026
What Jewelers Can Learn From Luxury Fashion’s Digital PlaybookHigh-end fashion houses know how to emotionally connect with customers online. Retail jewelers should take note, Emmanuel Raheb writes.
Events & AwardsMay 27, 2026
Couture’s ‘The Iridescence’ Will Showcase 7 Emerging Jewelry DesignersThe designers are the third cohort of mentees from the show’s Belonging @ Couture mentorship program.
ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
