PAYCHECK PROTECTION LOANS UPDATE

Mark Campanale Government Relations Updates, NPA News

The SBA issued a news release on Tuesday, January 12th stating over $100 billion in Paycheck Protection Program (PPP) loans have been forgiven in the 3 months since the earliest covered periods ended.

The SBA has thus far received over 1.3 million forgiveness applications. Eighty-eight per cent (88%) of the loans for $50,000 or less have been approved for forgiveness. Read more at: https://www.sba.gov/article/2021/jan/12/11-million-paycheck-protection-program-loans-forgiven-so-far-totaling-over-100-billion