COVID-19: Long Wait for PPP Loan Forgiveness

The Small Business Administration says it has begun PPP loan forgiveness after some frustrating delays. The Paycheck Protection Program was introduced in April, and tens of thousands of small business owners have been waiting to have those loans forgiven. Banks say the process for converting loans into grants has been complicated, but the SBA says it now expects to move quickly on the approval and payoff of those loans.

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