Banking
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The Cares Act Amended: Paycheck Protection Program Flexibility Act of 20206/9/2020
If you have already received a PPP loan, the PPP Flexibility Act will not allow you to apply for or receive a second loan. With respect to loans applied for after enactment of the PPP Flexibility Act, although the covered period has been extended to 24 weeks, there has been no change to the maximum loan amount that can be borrowed under the PPP - it remains 2.5 times a borrower's one-month average payroll cost, as determined under the existing PPP application.
