French Hill
U.S. Rep. French Hill, R-Arkansas, said Thursday that he’ll introduce a bill next week to help more businesses qualify for the second round of Paycheck Protection Program loans.
The bill, called the PPP Revenue Adjustment Calculation to Increase Capital Accessibility Long-term (or PRACTICAL Act), would allow businesses to use any 13-week period to demonstrate at least a 25% year-over-year reduction in gross receipts.
Right now, businesses that received a PPP loan during the first round of the program must show the reduction using a fixed quarter (January-March, April-June, July-September and October-December) to qualify for a second PPP loan in this round.