PPP Loan Forgiveness Application I Seattle Real Estate Podcast

The PPP Loan Forgiveness Application was released by the SBA and Treasury Department on May the 15th, 2020. Check it out on this episode of the Seattle Real Estate Podcast.

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.

#PPPForegivness #SBALoan

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