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You are here: Home / News / U.S. House Reviews PPP Processes and Loan Forgiveness

U.S. House Reviews PPP Processes and Loan Forgiveness

September 28, 2020 By CollisionWeek Editor

The Automotive Service Association (ASA) reports that the U.S. House of Representatives Committee on Small Business Subcommittees held two back-to-back hearings on the Paycheck Protection Program (PPP) entitled “Paycheck Protection Program: An Examination on Loan Forgiveness, SBA Legacy Systems, and Inaccurate Data” and “A Review of PPP Forgiveness”

According to PPP loan data released by the Treasury Department on July 6, businesses identified as auto body repair facilities received between $1.2 to $2 billion in forgivable PPP loans, an amount encompassing the $1.37 billion paid to employees during April and May implied by the BLS employment data.

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Filed Under: News Tagged With: Hearing, legislation, Paycheck Protection Program, U.S. House of Representatives

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