Get the key facts on how the Paycheck Protection Program Flexibility Act of 2020 makes significant improvements to the original program that will allow businesses more flexibility in using their loan funds. AGC’s tax, fiscal affairs and accounting expert Matt Turkstra walks through the notable changes regarding how borrowers can spend the funds, and how long they can take to spend the funds, and still qualify for loan forgiveness. This episode also covers new safe harbors for hiring or rehiring qualified employees, as well as changes in the terms of the loan and the repayment timing of any unforgiven loan amounts.
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