PPP: Simpler Forgiveness for Smaller LoansOctober 30, 2020

PPP: Simpler Forgiveness for Smaller Loans

Business owners who received a Paycheck Protection Program (PPP) loan of $50,000 or less can now apply for loan forgiveness through a simplified application. The U.S. Small Business Administration (SBA) announced the change on October 8, while Treasury Secretary Steven Mnuchin said the Treasury Department and SBA will continue to advocate for additional legislation in favor of making loan forgiveness easier for small businesses and lenders alike.

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