Congress recently passed legislation to loosen some of the restrictions that came with the popular Payroll Protection Program; the president signed it into law on June 5. The new law runs only about 1,000 words, but contains several major changes that vastly extend...
Business
House Passes Bill That Would Relax PPP Forgiveness Requirements
The U.S. House approved legislation Thursday making it easier for small businesses and other recipients of Paycheck Protection Program (PPP) funding to qualify for forgiveness of the loans. The House bill, called the Paycheck Protection Flexibility Act, H.R. 7010,...
PPP Loan Forgiveness Application Overview
The SBA released the Paycheck Protection Program Loan Forgiveness Application on May 15, 2020 at 7:30 p.m. Below are the most salient points from the guidance: Simplifies the 8-week cutoff The new guidance allows use of an 8-week covered period from loan...