Millions of PPP Loan-Forgiveness Requests Are About to Rain on Banks

Banks are preparing for a flood of applications for loan forgiveness under the U.S. Paycheck Protection Program, marshaling staff to help borrowers navigate a complicated process that recalls the fraught early days of the Covid-19 small-business relief effort.


Companies that received PPP funding in early April can start to submit forgiveness applications at the end of May. Lenders will have to help them sort through a detailed application document, complete the paperwork and get it to the Small Business Administration for approval. Banks made about 4.3 million PPP loans for a total of more than $500 billion, and the program allows every borrower to request forgiveness.


https://apple.news/A0ktFVtVaS9u6yJaXZGd-LA

White Logo.png

Address

 

936 South Howard Ave.

Suite 202

Tampa, FL 33606

Contact

 

info@catalystimpact.org

(813) 670-3223

Newsletter

Footer-Logos_Catalyst_Community-Capital_
Footer-Logos_Catalyst_Community-Capital_
Footer-Logos_Catalyst_Community-Capital_

© 2020 Catalyst Community Capital, Inc.  |   Privacy Policy   |   Terms & Conditions   |  Site: MadeBySanchez.com