The evolving rule changes for the Paycheck Projection Program have triggered confusion and doubt among business owners the program is intended to benefit. During the weeks since the program’s loans became available in early April, its shifting federal guidelines have given some contractors second thoughts about tapping the small business rescue program out of fear they will be audited later.
Within a few days of the program’s launch on April 3, billions had been committed. The initial rules were fairly open-ended, enabling contractors, engineers, architects and other small businesses to borrow money at low interest rates to pay employees and meet other basic needs.