H.R.7010 - Paycheck Protection Program Flexibility Act of 2020

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On June 5, President Trump signed into law the Paycheck Protection Program Flexibility Act which makes changes to the Paycheck Protection Program (PPP) which makes for a more user friendly for businesses who have struggled to meet the terms of the loan forgiveness provisions.  Specifically, the bill establishes a minimum maturity of five years for a paycheck protection loan with a remaining balance after forgiveness. The bill also extends the covered period during which a loan recipient may use such funds for certain expenses while remaining eligible for forgiveness. The bill raises the…

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