Initial Regulations for PPP Flexibility Released

Tal Coley June 17 2020

The Treasury Department and Small Business Administration released further regulations on the Paycheck Protection Program (PPP) last week. The latest release focused on measures included in the PPP Flexibility Act, which was signed into law on June 5th.

The interim final rule codified some of the changes that were made with additional guidance to be released at a later date. Some key highlights:

  • Use of Funds: A minimum of 60 percent of forgivable funds must be used on payroll costs, with a maximum of 40 percent applied to non-payroll costs for...

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