ppp baird interview

ppp baird interview

Of the newly passed paycheck protection program flexibility act.

It is part of the original ppp but this legislation lets more businesses like farmers and minority owned shops to get the money they need to stay open.

Congressman jim baird says the new plan makes it easier for the loans to be forgiven.

If a business meets the program's rules, including a requirement that it spends at least 60 percent of its aid money on payroll it does (not have to pay back the loan.

The expansion gives borrowers 24 weeks to spend their aid money instead of the previously stated 8 and lets them rehire laid-off employees.

Baird who represents indiana's 4th congressional district which includes many counties in our viewing area including tippecanoe, newton and montgomery.

He says the new legislation allows businesses to get their money sooner.

They have been strugglign and have had enough difficulty the way it is.

So the rpgoram was desgiend to get the money to them as qiick as possible and give them the flexibility to counter act that as they try to make reimbusement and move forward.

If a business has to pay back the loan udner the new rules they can take up to 5 years to do so.

The revious legislation said they must do so in 2 years.

Congressman bairds says ma business have been approved and received their funds within a week.

There is still 129 billion dollars in funding left.

Gov.

Eric holcomb says k-12 schools will not take any budget cuts