Paycheck Protection Program Flexibility (PPPFA)

President Trump recently signed into law the PPPFA which allows more flexibility when using PPP funds and applying for loan forgiveness. Key components include reducing the amount that must be spent on payroll costs from 75% to 60% and extending the timeframe to rehire certain laid-off employees from June 30thto December 31st  if seeking loan forgiveness.  Check with your accountant, bank or payroll provider for more information on all of the guidelines.