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5 reasons your organization may want to elect the 8-week covered period for its PPP loan

from BMWL

5 reasons your organization may want to elect the 8-week covered period for its PPP loan BMWL The Paycheck Protection Program Flexibility Act (the “Flex Act”), which became law on June 5, replaces the 8-week period (referred to in the law as the “Covered Period”) for spending Paycheck Protection Program loan funds with a 24-week Covered Period. However, the Flex Act allows borrowers who obtained loans prior to June 5, 2020 to elect to have an 8-week Covered Period apply, as was provided in the original law enacting the Paycheck Protection Program … the CARES Act. READ MORE

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