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Latest PPP changes deemed positive but more lie ahead

Charlotte Business Journal
June 2020

Charlotte Corporate Member Mike Miller was quoted in the Charlotte Business Journal article titled, “Latest PPP changes deemed positive but more lie ahead” which was published June 12. Today’s Paycheck Protection Program is different from the early April version. Guidelines changed daily at first and continue to shift around loan requirements. Legislators passed additional changes last week in the PPP Flexibility Act to help more businesses qualify for forgiveness.

Miller stated, “Hopefully they’ll be able to make the money go further and help their businesses and their employees stay afloat a while longer.” Additionally, Miller adds borrowers need to stay in contact with their lenders. They should keep detailed records — written offers and/or rejection letters or hiring advertisements, for example. Businesses also need to plan how to use their PPP funds in the long-term, he added.

To view the complete article, please click here.