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Paycheck Protection Program Requirements are Loosened Through Legislation Enacted on June 5, 2020
By Kronick June 8, 2020

The requirements of the CARES Act’s Paycheck Protection Program (“PPP”), which provided forgivable loans of up to $10 million to small businesses, were loosened on June 5, 2020. Through a new law, known as the Paycheck Protection Program Flexibility Act (“PPPFA”), the PPP was amended to provide additional time for small businesses to use PPP funds and eased restrictions on how funds are to be used.

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