PPP Flexibility Act

On May 28, 2020, the U.S. House passed the Paycheck Protection Program (PPP) Flexibility Act with strong bipartisan support. This bill provides new flexibility to PPP borrowers in several key requirements: Borrowers can apply for a PPP loan up to December 31, 2020 (assuming PPP funding remains available). Instead of an eight-week period to spend PPP funds, borrowers have a 24-week period after...