PPP Loans Get More Flexible for Small Businesses

Small businesses will have more time to spend their Paycheck Protection Program (PPP) loans, should new legislation approved this week by the U.S. Senate be enacted. Originally, loan recipients needed to spend their funds within eight weeks of receipt. That time limit has been expanded to 24 weeks under the Senate-approved bill.

For more details, see this analysis from OMA Connections Partner Clark Schaefer Hackett. Additional insight has been published by Plante Moran.

As of our publishing deadline, the bill was awaiting signature by President Donald Trump. 6/4/2020