President Trump Signs Law Easing PPP Forgiveness Restrictions
On June 5, 2020, President Trump signed the PPP Flexibility Act into law. The Act is intended to address some of the flaws in the Payroll Protection Program and subsequent guidelines that were revealed after borrowers attempted to navigate the requirements for use of loan proceeds in order to qualify for loan forgiveness. The PPP Flexibility Act consists of seven changes related to forgiveness, itemized below. PPP borrowers can choose...
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