SNHHBRA Summer Workshop Series hosts
PPP a/k/a Paycheck Protection Program
RESCHEDULED!!!
Tuesday, June 16th at 10 am
Because of upcoming changes that are pending and will soon be finalized we think it's prudent to wait until this passed into law and details are known to have our discussion on this topic.
We are sorry for any inconvenience but feel it will be a more productive session if we hold off for one week. Please send any questions you have prior to the workshop and we'll do our best to answer them for you. Please send to: info@snhhbra.com
Senate passes House-passed bill that provides more PPP flexibility
The Senate on June 3 passed by voice vote the Paycheck Protection Program (PPP) Flexibility Act of 2020 (H.R. 7010) which provides more flexibility for participants in the PPP loan program, including allowing those
participants to defer the payment of certain payroll taxes
that the CARES Act prevented them from deferring.
The House passed the bill last week. It now goes to the President for his signature.
The bill would also:allow businesses 24 weeks instead of eight weeks to use the loan money; Eliminate restrictions limiting non-payroll
expenses to 25% of loan proceeds;
Require loan recipients to comply with COVID-19 safety standards;
Eliminate restrictions that limit loan terms to two years; and
Extend the rehiring deadline.
