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On July 27, ÀÏÅ£Ó°ÊÓsubmitted to the U.S. Department of the Treasury and U.S. Small Business Administration on an changing key provisions of the SBA’s Paycheck Protection Program and its loan forgiveness and loan review procedures.
While ÀÏÅ£Ó°ÊÓexpressed support for several changes to the PPP, such as decreasing the portion of a PPP loan that must be spent on payroll costs from 75% to 60% and increasing the timeline to spend PPP funds from eight weeks to 24 weeks, ÀÏÅ£Ó°ÊÓalso urged the agencies to take the following actions in order to further assist small businesses:
ÀÏÅ£Ó°ÊÓhas followed the implementation and additional revisions to the PPP and submitted comments on a previous rulemaking related to the program.
ÀÏÅ£Ó°ÊÓwill continue to provide updates on the PPP and other SBA resources through Newsline and at .