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Paycheck Protection Program Flexibility Act passes Senate

On June 3, 2020, the Senate approved the Paycheck Protection Flexibility Act of 2020 (H.R. 7010), legislation the House passed on May 28 that makes significant changes to the Paycheck Protection Program (PPP). The Paycheck Protection Flexibility Act is  designed to make it easier for borrowers to obtain PPP loan forgiveness and intended to relax requirements and increase access for small businesses seeking emergency funding under the PPP. Click here for an overview of the most significant changes.