Trump Signs Flexibility Act for Paycheck Protection Plan

The Paycheck Protection Program (PPP) Flexibility Act signed June 5 by President Donald Trump amends key parts of the pandemic loan program for small business owners. HR7010 makes key changes to parts of the Paycheck Protection Plan. Some of these changes will surely be welcomed by small business owners who’ve received PPP funds recently. You have more time to apply, more time to use the money, and more time to rehire employees. If you have applied or are applying for a PPP loan and was stressing about the June 30 deadline to make the application, breathe a sigh of relief. The Flexibility Act extends the deadline to December 31, 2020.