Today, the NASE offered its support to S. 4117, The Paycheck Protection Program Small Business Forgiveness Act. Introduced by Sen. Cramer (R-ND) and Sen. Sinema (D-AZ), this legislation that would forgive PPP loans of less than $150,000 upon the borrower’s completion of a simple, one-page forgiveness document. PPP loans of $150,000 and under account for 85 percent of total PPP recipients, but less than 26 percent of PPP loan dollars. Expediting the loan forgiveness process for many of these hard-hit businesses will save more than $7 billion dollars and hours of paperwork. We look forward to working to see this bipartisan piece of legislation included in the next relief package currently being drafted. Read the letter of support.
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Courtesy of NASE.org https://www.nase.org/about-us/Nase_News/2020/07/08/support-of-s.-4117-the-paycheck-protection-program-small-business-forgiveness-act