//How the new rules for the Paycheck Protection Program help small-business owners

How the new rules for the Paycheck Protection Program help small-business owners

Small Business Administration Administrator Jovita Carranza before a Paycheck Protection Program announcement in the East Room at the White House on Tuesday, April 28, 2020, in Washington, DC. | Jabin Botsford/The Washington Post/Getty Images

There’s now more flexibility around how the loans can be used.

The Paycheck Protection Program, a loan program designed to help small businesses weather the economic downturn during the pandemic, has some new rules. These changes — approved by Congress via the Paycheck Protection Program Flexibility Act earlier this month — are designed to make it easier for business owners to get their loans forgiven and increase the program’s utility.

Vox is here to help small-business owners navigate these changes.

Among the updates: Business owners now have more leeway when it comes to spending the loan money. Previously, recipients were required to use 75 percent of the