In the ever-changing world of the Payroll Protection Program (PPP), it’s hard to know what is really going on. MP is here to save you time and help navigate the abundance of information out there. We’ve created this short video to explain the new PPP Flexibility Act that was signed into law on June 5th. With the signing of the Act came quite a few adjustments to the original guidelines for PPP loan forgiveness that business owners looking to obtain full or partial forgiveness will need to be aware of.
Some of the changes we covered in this week’s MP BizFeed include:
Covered period extension
More time to restore workforce
Reduced payroll expenditure requirements
For more information on these changes, watch the full video below.