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https://www.fa-mag.com/news/sba-issues–ez–ppp-loan-forgiveness-application-56389.html

SBA Issues 'EZ' PPP Loan Forgiveness Application

2020-06-18 00:00:00, Tracey Longozyyqysecrrxrerxcrarwafzyrvba, Financial Advisor Magazine

Content Categorization
/Business & Industrial

Word Count:
458

Words/Sentence:
31

Reading Time:
4.58 min

Reading Quality:
Advanced

Readability:
16th or higher

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The U.S. Small Business Administration (SBA) has issued a revised Paycheck Protection Program (PPP) loan forgiveness application that is designed to be easier for applicants to use

The probe come as the Trump administration faces increasing criticism for not releasing the details of the companies that received billions of dollars through the Small Business Administration's PPP program, a high-profile federal coronavirus-relief initiative.

The full application, as well as the EZ version, give borrowers the option of using the original eight-week covered period if the loan was made before June 5 or an extended 24-week covered period.

A House panel overseeing the coronavirus response held a hearing yesterday into the PPP lending practices of a number of big banks, including JPMorgan Chase, Bank of America, Wells Fargo & Co and Citigroup Inc.

"Some large lenders apparently created a two-tier system for processing PPP loan applications," stated a letter sent by the subcommittee Monday that asked banks to turn over their lending records.

Keywords
Financial planner, Alternative investments, Advisor conference, Investment advisor, Financial planning, Financial advisor, ETFs, Investment news, Broker-dealer, Retirement planning, CFP, RIA

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