Company News

Small Business Relief Council Letter on PPP and Loan Forgiveness

Gusto Editors  

On February 25, 2021, the Small Business Relief Council (SBRC) sent a letter to the Small Business Administration (SBA), Department of Treasury, and Congressional leaders regarding barriers to Paycheck Protection Program (PPP) loan forgiveness and second draw PPP loans.

The SBRC is a cross-industry coalition of 80 organizations that represents millions of small businesses across the country and spans different components of the small business financial ecosystem. Gusto developed and leads the consortium, bringing together the largest banks, fintechs, payroll companies, accounting firms, and software companies.

This letter outlines the SBRC’s suggestions regarding several steps the Administration can take to encourage forgiveness of first draw loans more quickly. The letter also outlines specific changes the SBA can make to ensure that second draw loans are more effective in reaching the small businesses intended to benefit from PPP.

Read the full letter here:

Small Business Relief Council Letter - 02.25.21 - page 1/7
Small Business Relief Council Letter - 02.25.21 - page 2/7
Small Business Relief Council Letter - 02.25.21 - page 3/7
Small Business Relief Council Letter - 02.25.21 - page 4/7
Small Business Relief Council Letter - 02.25.21 - page 5/7
Small Business Relief Council Letter - 02.25.21 - page 6/7
Small Business Relief Council Letter - 02.25.21 - page 7/7

Expert advice, right in your inbox.

Subscribe to get the latest articles, information, and advice to help you better run your small business. Delivered weekly, for free.

Gusto Editors
Gusto Editors

Comments

*Required fields

Your email address will not be published.

Back to top