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New Legislation Would Grant Automatic Forgiveness of PPP Loans Under $150,000

from Entrepreneur

New Legislation Would Grant Automatic Forgiveness of PPP Loans Under $150,000 Entrepreneur A bipartisan bill called The Paycheck Protection Small Business Forgiveness Act has been introduced into the Senate that would allow small businesses who received a Paycheck Protection Program (PPP) loan of $150,000 or less to obtain automatic forgiveness after submitting a one-page attestation form. The attestation form would be limited to one-page, and the small business would simply attest that the loan is eligible for forgiveness and that the business complied with the requirements of the Paycheck Protection Program found in the CARES Act. READ MORE

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