Washington Retail has joined in a letter to Congressional leadership to act this year on simplifying the process of obtaining forgiveness for Paycheck Protection Program loans issued at the beginning of the coronavirus pandemic.
Small businesses in particular are hoping that Congress will simplify a complicated and costly forgiveness process so they can focus their time, energy and resources on stabilizing their companies.
The letter requests forgiveness for loans of less than $150,000 upon completion of a new, one-page document. Loans of this size account for less than 28% of PPP loan dollars. Read the full letter here.