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Small Businesses Have More Flexibility with Protection Program Loans

June 8th, 2020 by WCBC Radio

Small businesses will likely now have more flexibility to use Paycheck Protection Program loans after the Senate unanimously approved a House bill to amend rules of the program.  The bipartisan bill makes several changes to the program. Those include: extending the timeframe to use funds, and requiring businesses to use 60% of the funds on payroll (before, it was 75%, which some small businesses said was a struggle as employees are unable to return to work amid shutdowns). Joe Mullanex is with Allegany Business Consulting…

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