cnynews [dot] com is reporting U.S. Rep. Antonio Delgado June 1, voted with a bipartisan coalition to add flexibility to the Paycheck Protection Program and to make it more accessible to upstate businesses in need of assistance. The program gives small businesses loans of up to $10 million to cover payroll and other operating expenses, and is designed so loans are forgiven if the business retains its employees and their salary levels. The Paycheck Protection Program Flexibility Act extends the loan forgiveness requirements and the rehiring deadline so that PPP works better for small businesses in need of assistance. “...The bipartisan measure passed by the House today will allow more businesses and agricultural producers to use these funds as they chart new paths to reopening,” said Delgado, a member of the House Small Business Committee. The bipartisan Paycheck Protection Program Flexibility Act makes updates the current 8-week covered loan forgiveness period to 24 weeks and extends the rehiring deadline; increases the current limitation on the use of loan proceeds for non-payroll expenses from 25 percent to 40 percent; extends the program from June 30 to December 31; and lengthens the loan terms from two to five years. Read the full story at cnynews [dot] com.