Lawmakers are hoping to resolve some of the biggest complaints about the PPP loan program, which is supposed to help small businesses affected by COVID-19.
With companies and employees still suffering across the country as a result of the coronavirus pandemic, the U.S. House of Representatives yesterday passed a new bill meant to address one of the biggest complaints about the federal loan program for small businesses—how they can spend the money. Under the bill, which passed the House almost unanimously and will head to the Senate next week, some restrictions for the Paycheck Protection Program, or PPP, would be relaxed. Here’s a breakdown of what would change:
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