Civic News
Federal government / Small businesses

Did you receive less than $50K in PPP funding? Time for forgiveness

Plus: Federal press releases are getting weirder.

If navigating the Paycheck Protection Program has you frustrated, you're not alone. (Photo by Pexels user Alexander Dummer used under a Creative Commons license)

U.S. Small Business Administration (SBA) released a bizarre press release on Thursday, including propagandist verbiage like “Nothing will stop the Trump Administration from supporting great American businesses and our great American workers” and “relentless commitment to using every tool in our toolbelt to help small businesses.”

Those lines are credited to SBA Administrator Jovita Carranza, along with “The Paycheck Protection Program has been an overwhelming success and served as a historic lifeline to America’s hurting small businesses and tens of millions of workers.”

(But if you’re a Black or Brown small business owner, not so much.)

(Also, the program has been fraught with fraud, fraud, fraud.)

In any event, all this is to say that what the SBA calls “America’s smallest businesses,” those that received $50,000 or less in PPP funds, now have a new “simpler” form to apply for loan forgiveness. These businesses may still receive forgiveness if they reduced the number of full-time employees, due to summer revisions to the program.

If that’s you, you can apply for Paycheck Protection Program loan forgiveness now.

Companies: U.S. Small Business Administration

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