President Trump boards Air Force One on July 3. Photo: Saul Loeb/AFP via Getty Images

President Trump signed off on Saturday to give businesses another five weeks to apply for funds through the Paycheck Protection Program.

Why it matters: Roughly $130 billion in PPP funding is still available. The Small Business Administration's inspector general found in May that some rural, minority and women-owned businesses may not have gotten loans due to a lack of prioritization from the agency.

Where it stands: The SBA said that the program had approved over 4.8 million loans as of Tuesday, per the Washington Post — approximating $520 billion.

Go deeper: Senate passes PPP extension through August

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Updated 23 hours ago - Health

U.S. coronavirus updates

Data: The COVID Tracking Project; Note: Does not include probable deaths from New York City; Map: Andrew Witherspoon/Axios

Despite some case decreases, COVID-19 deaths are on the rise in the U.S., with California reporting a record-high average this week.

Driving the news: President Trump said in an interview with “Axios on HBO” he thinks the coronavirus is as well-controlled in the U.S. as it can be, despite dramatic surges in new infections over the summer and more than 150,000 American deaths.

GOP senator says stimulus needs to be as "narrowly focused" on COVID-19 as possible

Sen. James Lankford (R-Okla.) said at an Axios virtual event Wednesday that the next coronavirus relief package needs to be as "narrowly focused" on COVID-specific issues as possible in order to resolve the differences between Republicans and Democrats.

Why it matters: Democrats and negotiators from the Trump administration remain far apart on a deal for the next tranche of relief. The fraught negotiations come as millions of Americans continue to suffer from the health and economic effects of the pandemic without the unemployment benefits from the first stimulus bill.

Updated 22 hours ago - Technology

Facebook, Twitter take down Trump post saying kids are immune to coronavirus

Photo: NurPhoto/Getty Images

Facebook removed a video post from President Trump Wednesday in which he claimed in an interview with Fox News that children are "almost immune" to COVID-19.

Why it matters: It’s the first time that Facebook has removed content from Trump's account for violating policies on coronavirus-related misinformation.