Paycheck Protection Program Corrections and Additional Funding
Many industries were severely impacted by the COVID-19 pandemic, and real estate was no exception. Leases and loans were renegotiated, rents were deferred or reduced and some tenants went out of business. Congress passed the Paycheck Protection Program (PPP) as part of the CARES Act, and while good intentioned, the haphazard guidance and lack of clarity on the PPP loan created a host of problems.
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