The senate just approved changes to PPP that would give businesses more flexibility when using loans and qualifying for forgiveness
alike, the program has doled out $550 billion, with $120 billion remaining left to be claimed.
The new bill extends the time businesses have to use loan funds from eight weeks to 24 weeks, and reduces the amount that businesses areIt also extends the time businesses have to rehire workers, use the funds to pay them, andWith many businesses currently shut down or operating under capacity, the extended timeline increases the hope many have of
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Why PPP Loan Forgiveness Might Get EasierCongress soon could ease restrictions on how businesses spend their Paycheck Protection Program (PPP) loans, making it easier for small-business owners to qualify for loan forgiveness.
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After a rush for more small business funding, PPP loan money remains untappedMore than a month into round two of the Paycheck Protection Program, there's more than $120 billion still left unallocated for small businesses.
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Some green shoots emergeWall Street continued its remarkable rocket ride yesterday following a shockingly small 2.8 million drop in private payrolls for May that suggested a fairly quick to return to hiring as states reopen
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Senate passes bill lengthening coronavirus small-business loan termsThe U.S. Senate unanimously approved legislation on Wednesday giving small businesses up to 24 weeks to use Paycheck Protection Program loans created during the coronavirus pandemic, up from the current eight-week deadline.
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Senate passes bill to fix PPP loan program, sends to Trump for signatureSenate unanimously passes bill that seeks to fix the Paycheck Protection Program, which provides direct relief to small businesses amid the coronavirus pandemic; the bill now heads to President Trump's desk for signature.
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