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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