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Paycheck Protection Program Flexibility Act: Answering Your Frequently Asked Questions

The recently created Paycheck Protection Program Flexibility Act (PPPFA) addresses several concerns expressed by businesses regarding the Paycheck Protection Program (PPP). While the PPP loans were met with great enthusiasm, the program’s rollout left many concerned about the possibility of being unable to meet the requirements for full loan forgiveness. Below is a summary of the revisions created by the PPPFA to address those concerns.

While the added flexibility created by the PPPFA is undoubtedly welcome among PPP recipients, it is important to note that additional changes are likely forthcoming as the SBA addresses the uncertainties generated by the new law. Recipients of PPP loans should continue to watch for additional guidance from the SBA in the weeks ahead.


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