PPP Extension Bill Approved


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This is from The National Restaurant Association.

The Senate passed the PPP amendment bill “Flexibility Act” today.

Here is the summary of the bill


  • Forgiveness period 24 weeks (was 8 weeks)

  • Payroll ratio 60% (was 75%)

  • Five years repayment period for the new loans

  • Tax deferment for PPP recipients

  • June 30 rehiring deadline extended

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