PPP ‘Instrumental’ for Montpelier Distillery
… and initially needed to spend at least 75% of the PPP loan over eight weeks on payroll and no more than 25% on rent, mortgage and utilities to get the loan forgiven. As a result of the PPP Flexibility Act passed … businesses then needed to spend at least 60% of the PPP loan over 24 weeks on payroll and no more than 40% on rent, …