There will be major changes in the horizon for the PPP as the House of Representatives passed a bill yesterday that included:

  • PPP period extension to 24 weeks
  • Payroll requirement for forgiveness moved to 60%
  • Extending the program up to Dec 31, 2020
  • Extending the PPP loan from 2 years to 5 years

Note that the Senate has to approve but we expect a high probability of success as this is a bipartisan initiative.

Forbes –