NATP Encourages Streamlined PPP Forgiveness
On Nov. 20, NATP, along with dozens of other associations, submitted a letter urging Congress to address the overburdensome Paycheck Protection Program (PPP) forgiveness process. The group is encouraging Congress to quickly consider proposed legislation, S. 4117, The Paycheck Protection Program Small Business Forgiveness Act, and H.R. 7777, The Paycheck Protection Small Business Forgiveness Act, which would help in reducing compliance costs by streamlining the forgiveness process for businesses that received PPP loans during these unprecedented times.
The PPP forgiveness process has already begun for banks and will continue for them and for
millions of American businesses in the coming months. Businesses have been patiently awaiting
for Congress to act, hoping that an improved and streamlined forgiveness process will ensure
they can focus their time, energy, and resources back into their business and communities instead
of allocating significant time and expense into completing complex forgiveness forms.