House Approves Bill to Loosen Paycheck Protection Restrictions

The House has passed legislation, that would loosen some restrictions for implementing the federal Paycheck Protection Program, or PPP, which provides forgivable loans to assist small businesses stay afloat during the coronavirus pandemic.

Under the bill, at least 60% of the loan dollars must go for payroll. That’s down from the 75% minimum share for payroll now.

Read more on ENR.com.