Paycheck Protection Program Flexibility Act Updates

COVID-19

Paycheck Protection Program Flexibility Act Updates Yesterday, the U.S. Small Business Administration posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020. In addition to revising the full forgiveness application, the SBA also published a new EZ version of the forgiveness application, which requires fewer calculations and…

Paycheck Protection Program Flexibility Act

COVID-19

Paycheck Protection Program Flexibility Act The U.S. Senate passed the House version of Paycheck Protection Program (PPP) legislation Wednesday night, tripling the time allotted for small businesses and other PPP loan recipients to spend the funds and still qualify for forgiveness of the loans.  A summary of the provisions are as follows: PPP borrowers can…