The Roadblocks on the Road to PPP Loan Forgiveness
On September 1, 2021, I attended a meeting of the United States House Committee on Small Business to provide testimony on behalf of Affinity Credit Union and the National Association of Federally-Insured Credit Unions. The committee sought to learn how it could make the process for Paycheck Protection Program (PPP) loan forgiveness easier.
Right now, the loan forgiveness application can be a mountain to climb for some small businesses, and with the lingering pandemic still greatly impacting day-to-day operations, small business owners should not have to dedicate any more time and resources to PPP loan forgiveness than necessary.
There are many roadblocks for both borrowers and lenders that need to be addressed. These were discussed at the meeting, while representatives from other ins...
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