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.
CollisionWeek research published
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