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The U.S. Senate has passed the Paycheck Protection Flexibility Act providing more relief for small businesses and other Paycheck Protection Program (PPP) loan recipients to spend the funds and still qualify for forgiveness of the loans.
Here are highlights from the proposed legislation:
The legislation is expected to be signed into law by President Trump in the coming days. Doeren Mayhew is committed to keeping you informed of the legislation impacting your business and its PPP loan. Stay tuned, as we will provide an in-depth look once the act is signed into law. In the meantime, should you have any questions related to how this may impact your PPP loan, contact your trusted Doeren Mayhew advisor.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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