From Texas Association of Business
Small businesses will likely now have more flexibility to use Paycheck Protection Program loans after the Senate unanimously approved a House bill to amend rules of the program late Wednesday. The bill now goes to President Trump to be signed into law.
Once signed into law, PPP borrowers will have the period where their expenses count towards loan forgiveness extended from 8 to 24 weeks, will have greater flexibility in bringing employees back on the payroll, and will be able to count more of their overhead expenses towards loan forgiveness. Read the full article here.