President Donald Trump has signed into law the Paycheck Protection Program (PPP) Flexibility Act, and CUNA’s CompBlog examines what it means for borrowers and lenders.
The bill is designed to give small businesses more time and flexibility to use PPP funds by modifying several CARES Act provisions related to loan forgiveness and payroll tax deferral for borrowers.
Changes to the PPP act from the legislation include:
Additional details can be found in the CompBlog entry.