ALBANY, N.Y. (NEWS10) – The federal government has made a change to paycheck protection program. Business partners and partnerships can be paid with money from a PPP loan.
The loans, part of the latest federal stimulus package, were to be used to pay employees, and for business expenses such as utilities, during the Coronavirus pandemic. Business owners are also eligible to be paid using the money.
The latest rule change is adding to the confusion about the loans. News10 spoke with a corporate tax and business attorney with the firm Bond, Schoeneck & King. Jennifer Boll discusses the issues surrounding the PPP loans