Source: Jim Saksa, ROLL CALL, 10/9/20


The Treasury Department and the Small Business Administration released a simplified forgiveness application for Paycheck Protection Program loans under $50,000. The simplified form released late Thursday cuts the application’s size down from five pages to two, and removes most of the questions aimed at ensuring that the loans were used for the program’s intended purposes of supporting payrolls and covering other fixed costs. The PPP was established as part of the $2 trillion economic rescue package enacted in March to speed loans to small businesses hurt by the coronavirus pandemic.

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