June 10, 2020

PPP Flexibility Act Summary

William “Bill” Peffer, Kenneth Siegel, Lyle Wallace

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On June 5, President Trump signed into law the PPP Flexibility Act of 2020 (the Flexibility Act). The Flexibility Act modifies numerous loan eligibility, loan forgiveness, and loan repayment aspects of the PPP created under the CARES Act.

The advisory outlines how the Flexibility Act can provide additional flexibility for the PPP borrower with respect to receiving PPP loans, maximizing PPP loan forgiveness, and assisting in PPP loan repayment for amounts that are not forgiven.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.