Policies & IssuesMar 03, 2021
Here’s What’s New With the Paycheck Protection ProgramPolicies & IssuesMar 30, 2021
Congress Approves Paycheck Protection Program Extension
Lingering technical and administrative issues have had some business organizations calling for more time to apply.
Applications for the Paycheck Protection Program would be accepted until May 31 under the PPP Extension Act of 2021. President Joe Biden is expected to sign the bill in the coming days.
New York—Small businesses may have more time to apply for a Paycheck Protection Program loan after the Senate passed the PPP Extension Act of 2021 last week.
Set to expire March 31, applications would be accepted until May 31.
The extension would also give the Small Business Administration an additional 30 days after the May deadline to process the loans.
The bill has already been approved by the U.S. House of Representatives.
President Joe Biden, whose administration has expressed support for the program, is expected to sign the bill.
“The Paycheck Protection Program has served as a lifeline for many retailers and other businesses across the country, ensuring they can continue to pay their employees and keep their doors open,” said National Retail Federation CEO Matthew Shay in a statement following the Senate’s approval of the extension.
“Extension of the Paycheck Protection Program is vital to ensure that small businesses can continue to drive economic activity and job creation as we recover from this pandemic.”
Set to expire March 31, applications would be accepted until May 31.
The extension would also give the Small Business Administration an additional 30 days after the May deadline to process the loans.
The bill has already been approved by the U.S. House of Representatives.
President Joe Biden, whose administration has expressed support for the program, is expected to sign the bill.
“The Paycheck Protection Program has served as a lifeline for many retailers and other businesses across the country, ensuring they can continue to pay their employees and keep their doors open,” said National Retail Federation CEO Matthew Shay in a statement following the Senate’s approval of the extension.
“Extension of the Paycheck Protection Program is vital to ensure that small businesses can continue to drive economic activity and job creation as we recover from this pandemic.”
Launched in April 2020 as part of a $3 trillion COVID-19 relief bill, the Paycheck Protection Program offers forgivable loans to small business owners.
Its rollout was fraught with issues, both administrative and technical.
Some of these issues are still plaguing the program, according to a March 15 letter from the NRF and nearly 100 other business groups.
In a letter voicing their support for the extension, the groups said members were “highly concerned” about processing issues, error codes, and application rejections related to issues with Taxpayer Identification Numbers.
“These delays and denials may put many applicants in danger of not making the March 31st authorization deadline,” stated the letter.
Even when the applications did go through, reports surfaced that the money was going to big businesses as mom-and-pop stores struggled.
The Biden-Harris Administration looked to address that issue by implementing some changes to the program in late February.
The updated program set aside a two-week period, from Feb. 24 to March 10, during which only businesses with fewer than 20 employees could apply.
This group represents 98 percent of all small businesses but has received only 45 percent of PPP funding to date, according to the Small Business Administration (SBA).
The changes also provided greater support for self-employed individuals, sole proprietors, and independent contractors.
The problem surrounding the use of Individual Taxpayer Identification Numbers was also addressed, with the SBA set to issue clear guidance to prevent eligible applicants from being denied access to the program.
To learn more about PPP or to apply, visit the SBA’s website.
More on Policies & Issues
The Latest
FinancialsMar 10, 2026
Signet Jewelers’ Q4 Sales Fall Flat The jewelry giant released preliminary results for the fourth quarter and full year on Monday, with final results slated to come next week.
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 10, 2026
Diamond-Studded Painting Shines at RJO Foundation AuctionThe unique piece was one of the custom works offered at the foundation's recent silent art auction, which garnered nearly $15,000 in total.
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
SourcingMar 03, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
