Businesses helped by Paycheck Protection Program (PPP) loans now have more options in utilizing the funds – including an extended time period for spending the loans under the recently-passed Paycheck Protection Program Flexibility Act of 2020.
Small businesses obtaining forgivable loans under the Paycheck Protection Program (PPP) had eight weeks to spend the funds. However, many were closed during this period by government order.
Robert C. Procter talks about the Paycheck Protection Program Flexibility Act of 2020, which extends the time small businesses have to spend the forgivable loans.
See the article Senate Passes Paycheck Protection Program Flexibility Billin Axley’s Publications blog.in Axley’s Publications blog.
Robert C. Procter is a partner in the Madison office of Axley Brynelson.
Also, read a summary of the new law’s major provisions in this post from the U.W.-Madison School of Business.
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