U.S. President Donald Trump said on Monday extending the amount of time borrowers in the Paycheck Protection Program have to spend their funds to ...
U.S. President Donald Trump said on Monday extending the amount of time borrowers in the Paycheck Protection Program have to spend their funds to 24 weeks from the current eight weeks"should be easy."
Trump made the comment at a White House roundtable event with restaurant executives, who urged the extension. Restaurants have been particularly hard hit by social distancing orders to combat the coronavirus pandemic, forcing many establishments to close or offer only takeout or delivery.Small businesses have griped that the current terms of the PPP program, which requires them to spend the relief funds within eight weeks of receiving them, are too rigid to meet all their needs.
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