On Thursday, the U.S. House voted 417-1 to approve sweeping changes to the Paycheck Protection Program, extending the 8-week period to 24 weeks, loosening the 75%/25% payroll expenses ratio, and lengthening the maturity period.
Read the entire bill here. My summary of the bill is here.
The PPP Flexibility Act will now head to the U.S. Senate, where changes to the bill appear likely.