Within the last two months, we’ve heard a lot about the Paycheck Protection Program (PPP) loan, which was passed and signed into law at the end of April. The loan has helped countless small businesses stay afloat during these trying times by providing them with the funds to stay in business, promise job security and bring back their employees. But, despite all of these benefits, the loan has also come with a number of stipulations regarding how it can be used and when it needs to be used by. On Friday, June 5, the Paycheck Protection Program Flexibility Act, an extension for the usage of the loan, was passed by Congress.
Let’s take a look at how small businesses were affected by this tight deadline, prior to the extension, why the loan was extended, and what this means for small businesses moving forward.










