Firms that took a PPP loan under $2 million are about to get a break

Business owners who borrowed less than $2 million from the Paycheck Protection Program can breathe a little easier: They likely won’t face an audit from federal authorities.

The PPP — a forgivable loan program that allows small businesses to cover up to eight weeks of payroll costs, mortgage interest and other expenses — was refilled to the tune of $310 billion on April 27 to help employers keep workers on board.

Businesses applying for the lifeline needed to certify in good faith that “current economic uncertainty” made the request necessary.

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