Currently, there is legislation being negotiated in Congress that if passed, would most likely include revisions to the forgiveness rules, simplifying the process for borrowers with loans under $150,000.
Please understand there are currently delays in applying for loan forgiveness should not negatively impact you, the borrower. Borrowers may apply for forgiveness any time during the life of the loan and all loans currently remain in a deferral status.
As with most negotiations in Congress, this remains a fluid situation with what looks to be a possible upside for borrowers.
We’d like you to join us in in support of H.R. 7777 and S 4117, thePaycheck Protection Program (PPP) Small Business Forgiveness Act andencourage you to consider taking action and reach out to and urgeCongress to pass standalone PPP Forgiveness legislation. Together we canmake an impact.
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