NASE News

NASE Joins Broad Business Coalition in Support of PPP Loan Foregiveness

On the heels of the NASE endorsing, S. 4117, The Paycheck Protection Program Small Business Forgiveness Act, legislation that would forgive PPP loans of less than $150,000 upon the borrower’s completion of a simple, one-page forgiveness document. 

NASE has joined a broad coalition of leading business organizations to call for the inclusion and adoption of this legislation in future COVID 19 relief measures. 

As shared, PPP loans of $150,000 and under account for 85 percent of total PPP recipients, but less than 26 percent of PPP loan dollars. Expediting the loan forgiveness process for many of these hard-hit businesses will save more than $7 billion dollars and hours of paperwork.

Read the coalition letter here.