Dispatch #41 - PPP Loan Rules to Loosen Up?

The House approved a bill yesterday that loosens up the PPP rules, giving businesses much-needed flexibility in their use of loan funds.

From the Wall Street Journal:

The House bill reduces the level of Paycheck Protection Program funds that must be used for payroll to 60% from 75%. The bill also gives borrowers up to 24 weeks to use the funds, up from the eight set in the initial bill passed in March, and extends the deadline to rehire workers to Dec. 31.

The bill now goes to the Senate.

Stay tuned, and have a good weekend!

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