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PPPL Forgiveness - The Details

The Paycheck Protection Program Loan (PPPL) was modified by the Paycheck Protection Program Flexibility Act, which was signed into law on June 5, 2020. The initial PPPL forgiveness conditions were determined not to be flexible enough to enable businesses to survive given the uncertainty over when many businesses will be able to operate normally. Therefore, the new law expands and clarifies many provisions of the original PPP loans, which we discuss below. Finally, if you are thinking of applying for a PPP loan, please remember that the deadline to apply is August 8, 2020.

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