SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less and Webinar
From the North Country Chamber of Commerce
The U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less.
This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.
SBA and Treasury have also eased the burden on PPP lenders, allowing lenders to process forgiveness applications more swiftly.
SBA began approving PPP forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on October 2, 2020. SBA will continue to process all PPP forgiveness applications in an expeditious manner.
SBA will be hosting a webinar to discuss the new simpler forgiveness forms and process on October 14th for free. Sign up here.
Posted: October 13th, 2020 under Business News, Heathcare News.