Changes to PPP to Benefit Your PPP Borrowers: The Paycheck Protection Program Flexbility Act of 2020
June 9, 2020
The Paycheck Protection Program (the “PPP”) has come a long way since Congress approved the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) on March 27, 2020—which, while barely two and half months ago
on the calendar, seems like a decade in terms of what has gone on in the world —and particularly in terms of the evolution of the PPP.
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The latest chapter of the PPP was just written with the enactment of the Paycheck Protection Program Flexibility Act of 2020 on Friday, June 5, 2020.
There is a lot of good news in the new PPP “Flexibility Act” for those borrowers in the portfolios of asset-based lenders that have received or still expect to receive a PPP loan. Read the article on the Flexibility Act by Otterbourg finance partner David Morse here to find out how it helps.