On Friday, July 17th, the head of the SBA announced the Bad News - the rollout of the PPP Loan Forgiveness site will be delayed until sometime in August.
The Good News is this delay signals the strong possibility of a one-page, simplified loan forgiveness cut-off at plus or minus $150,000. That will require the House, Senate, and White House to agree on a new relief bill to include some level of streamlined forgiveness unless a pending bipartisan bill is approved earlier.
We believe all three parties are sufficiently motivated and are crossing our fingers!
Robert B. McGivney