On the heels of the NASE endorsing, S. 4117, The Paycheck Protection Program Small Business Forgiveness Act, legislation that would forgive PPP loans of less than $150,000 upon the borrower’s completion of a simple, one-page forgiveness document. NASE has joined a broad coalition of leading business organizations to call for the inclusion and adoption of this legislation in future COVID 19 relief measures. As shared, 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. Read the coalition letter here.
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Courtesy of NASE.org https://www.nase.org/about-us/media-relations/nase-in-the-news/2020/07/09/nase-joins-broad-business-coalition-in-support-of-ppp-loan-foregiveness