Browsing: Small business

Newsbytes

With the Small Business Administration’s Paycheck Protection Program officially winding down tonight, Treasury Secretary Steven Mnuchin told the House Financial Services Committee today that the administration is working with lawmakers to repurpose the $135 billion of funding still left in the program.

Commercial Lending

During a Senate Small Business Committee hearing today, Treasury Secretary Steven Mnuchin confirmed that, pursuant to the Paycheck Protection Program flexibility law passed last week, borrowers that use less than 60% of their PPP loan amount for payroll costs during the forgiveness covered period will still be eligible for partial loan forgiveness.

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