Senate Majority Leader Mitch McConnell, a Republican from Kentucky, walks through the Hart Senate Office Building on Tuesday, June 2, 2020.
Sarah Silbiger/Bloomberg via Getty Images
Business owners who received a forgivable loan through the Paycheck Protection Program are likely getting more leeway on how to spend those funds.
The Senate passed legislation Wednesday night that restructures how entrepreneurs can use loans issued through a new federal relief program for small businesses ailing from the economic contagion unleashed by the coronavirus pandemic.
Many business owners have called on Congress to update the Paycheck Protection Program as they struggle to meet