WASHINGTON, D.C. – A bill, sponsored by Senator Angus King, that gives more flexibility to small business owners during the pandemic is now headed to President Donald Trump’s desk.
Wednesday evening, the U.S. Senate passed the Paycheck Protection Flexibility Act, which makes changes to the Paycheck Protection Program.
The legislation passed the House last week.
According to a release from Senator Angus King’s Office, those changes include extending new loans over a longer period of time, and allowing added flexibility in how businesses can spend PPP funding.
The independent senator said the pandemic has caused Maine businesses “unprecedented, unmitigated harm,” and that this bill serves as a “mid-course correction” to help Mainers weather the storm.
For more information about the bill, visit the senator’s website.