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Congress Adds More Flexibility to Paycheck Protection Program

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On June 3, the United States Senate passed the “Paycheck Protection Program Flexibility Act” (Act), which is designed to create additional flexibility for borrowers under the terms of the Paycheck Protection Program (PPP). The Act previously passed the United States House of Representatives and now heads to the President for signature, which is expected in the coming days. Click here for more information on some key changes to the PPP included in the Act.