Exploring the Paycheck Protection Program Flexibility Act of 2020

Business Law

By Joan T. Berg

Joan T. Berg is a partner at Schoenberg, Finkel, Newman & Rosenberg LLC. She offers her clients an array of experience, ranging from commercial real estate construction and development, to general corporate representation. Her commercial real estate experience spans construction, development, land use, acquisition, disposition, lending and leasing.

Posted June 18, 2020 10:40 AM

On June 5, President Donald Trump signed into law Public Act 116-142, known as the Paycheck Protection Program Flexibility Act of 2020. The PPPFA makes significant changes to the PPP loan program, addressing issues facing many small business employers seeking loan forgiveness based upon restrictions under the Paycheck Protection Program loan established by the Coronavirus Aid, Relief and Economic Security Act, or CARES Act.Specifically, it amends the forgiveness provisions of the PPP loan program, extends the maturity date …

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