US Senate Enacts Legislation to Extend the Paycheck Protection Program

After $349 billion in paycheck protection program (“PPP”) loans were exhausted in just 13 days, the U.S. Senate today enacted legislation to provide additional funding for the program, including at least $60 billion set aside for smaller banks and lenders. The legislation does not alter the general eligibility, affiliation, forgiveness, repayment and loan requirements; but…