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PPP Program Extension


cbslee
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More changes are on the way. A bipartisan bill in the Senate Banking Committee would allow PPP Loan recipients of loans in the amount of $150,000 or less,

to receive forgiveness with the filing of a one page attestation which would not require any complicated calculations.

The PPP webinar I took yesterday covered both forgiveness applications. While the EZ application is less complicated, just determining whether you qualify

to use the EZ application is definitely not easy unless you are a small business with a few employees with no changes.

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  • 2 weeks later...

The Treasury Secretary and the head of the SBA testified during a House committee hearing this week.

According to various commentators, the following things are under active consideration:

1.  Adding more money to the $103 Billion left in the PPP Loan Program and another extension of the application deadline.

2.  Allowing borrowers to receive a second PPP Loan if their business has suffered a significant revenue decline.

3.  The Treasury Secretary was receptive to the "automatic forgiveness" ( See my earlier post )  of PPP Loans under $150,000.

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