Amended PPP Legislation Signed into Law, Granting Small Businesses Much-Needed Flexibility

Date: June 05, 2020

WASHINGTON, D.C. (June 5, 2020) — The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released the following statement from Kevin Kuhlman, Vice President of Government Relations, in response to President Trump signing H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020 into law:

“The President’s signing of the Paycheck Protection Program Flexibility Act of 2020 into law is welcome news for small businesses across our nation. This will grant small business owners much-needed flexibility as many are reaching the end of their PPP forgiveness period. We thank the President for signing this bill into law, and we look forward to continuing to work with the Administration on the implementation and improvement of this program.”

This week, NFIB published a survey updating the utilization of both small business lending programs, the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) Program.

NFIB released a statement on the passage of H.R. 7010 in the United States Senate and previously released a statement on the bill’s passage in the United States House of Representatives. This was considered a Key Vote for the 116th Congress.

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