The Treasury Department and Small Business Administration are preparing to release much-anticipated forgiveness guidelines for borrowers who were able to secure a Paycheck Protection Program loan -- a crucial road map for those who hope to have their federally-backed loan turn into a grant -- according
to Senate Small Business Committee Chairman Marco Rubio and his Democratic counterpart, Ben Cardin of Maryland.
Tune into ABC at 1 p.m. ET and ABC News Live at 4 p.m. ET every weekday for special coverage of the novel coronavirus with the full ABC News team, including the latest news, context and analysis. MORE: Whistleblower to testify 'window of opportunity is closing' to develop strategy to combat coronavirus
Naomi Pomeroy, the owner of Portland-based Beast and Expatriate, said she received a PPP loan and was told by her banker to expect forgiveness guidance soon. That was near the end of April. Some desperate business owners have not applied out of fear, even though PPP still has federal funds available.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lawsuit seeks data on PPP small business loans as large companies face deadline to return fundsA group of news outlets is joining forces to compel the Small Business Administration to reveal the names of all the companies approved to receive PPP loans.
Read more »
Firms that repay PPP loans they didn't need won't be prosecuted after allReversing an earlier threat, the Trump administration said firms that took PPP loans of more than $2 million that they didn’t need can repay the money without legal consequences.
Read more »
Lawsuit seeks data on PPP small business loans as large companies face deadline to return fundsAs large, publicly-traded companies face a deadline Thursday to return money intended to serve as a lifeline for small businesses during the coronavirus crisis, a group of news outlets is joining forces to compel the Small Business Administration to reveal the names of all the companies approved to receive
Read more »
Firms that took a PPP loan under $2 million are about to get a breakBusiness owners who were worried about proving their need for emergency funding can breathe a little easier for now. The Treasury Department and Small Business Administration is granting 'safe harbor' for firms that borrowed less than $2 million.
Read more »
Why GoDaddy Billionaire Bob Parsons Gave Back His $8 Million PPP LoanHaving received a stimulus check for his many businesses—including a golf equipment company and Harley-Davidson dealerships—the serial entrepreneur explains his abrupt U-turn.
Read more »
'Love & Hip Hop: Atlanta' Star Charged With Fraud After Obtaining $2M PPP Pandemic LoanMaurice Fayne allegedly used more than $1.5 million on jewelry and child support, according to authorities.
Read more »