House passes small business loan tweaks that would help healthcare providers

Modern Healthcare: The House of Representatives on Thursday passed legislation that would allow healthcare providers that received forgivable small business loans more flexibility on how they can spend the money.

The House overwhelmingly passed the Paycheck Protection Program Flexibility Act 417-1. The bill is timely because the current eight-week deadline for borrowers to use funds is approaching for the first businesses who received Paycheck Protection Program loans. There is a similar proposal in the Senate, though it is unclear what shape final legislation could take.

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