The Treasury Dept. is allowing a one-week extension of the deadline for recipients of Paycheck Protection Provision (PPP) loans to return the money to the government if the companies determine they do not meet newly revised guidelines for eligibility, a major construction contractor group says.
But the Associated General Contractors of America said if Treasury fails to also revise and clarify the guidance for the highly popular, forgivable loans, construction firms that received the loans will decide to pay back the loans and lay off workers.