Southern California Real Estate Report

Southern California Real Estate Report


PPP Revision Help San Diego Businesses

June 12, 2020

Today on the Southern California Real Estate Report we focus on San Diego opening up again with a modification to the original CARES Act, or the Paycheck Protection Program Flexibility Act.


We talk about how the restaurant and hospitality industry will benefit because now only 60% of PPP loans must be spent on payrolls, leaving the remaining 40% for other eligible expenses, including rent.


 


We believe that these changes will help keep business open because they allow for them to have flexibility.


We reference the following article for this podcast:


https://www.bisnow.com/national/news/retail/ppp-revision-aims-to-help-restaurants-104705