New form allows eases documentation requirements for smallest businesses that received coronavirus support.
The U.S. Small Business Administration, in consultation with the Treasury Department, on October 8 released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.
CollisionWeek research published in May showed that over 90% of collision repair facilities applied for government backed loans and grants like PPP.
“The PPP has provided 5.2 million loans worth $525 billion
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