Image source: FOX NEWS
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The proportion of loans that must be used for employee salaries will be reduced from the current 75% to 60%; -
The duration of the loan can be extended from 8 weeks to 24 weeks; -
If the loan cannot be converted into a grant, extend the repayment period from 2 years to 5 years; -
必须雇佣回与疫情发生前数量一致员工的时间节点从6月30日宽限到2020年的12月31日
Since its introduction in March, PPP loans have helped nearly 3 million small businesses or merchants nationwide. But its strict scope of use and complex rules of use are widely criticized, especially for small businesses like restaurants. The new crown epidemic caused the restaurant to shut down dine-in meals, but previously this loan could only be used for high store rents of 450% or less.
https://www.foxbusiness.com/politics/trump-ppp-reform-bill-restrictions-small-business-loan-recipients
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