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PPP Flexibility Act Brings Important Changes to the Paycheck Protection Program

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Small businesses struggling to remain afloat during the economic upheaval caused by the coronavirus pandemic received some relief with the passing of the Paycheck Protection Program (PPP) as part of the historic CARES Act. The program provides eligible businesses with unsecured loans to help them cover payroll, rent and other ongoing business expenses, with the possibility of partial or complete loan forgiveness.

On June 5, the Paycheck Protection Program Flexibility Act (PPPFA) was signed into law, making significant changes to the PPP program. Here’s what you need to know about these changes.

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