The SBA has opened its PPP loan forgiveness application portal and issued a frequently asked questions document on loan forgiveness, while CISA issued an alert that an unknown malicious cyber actor is spoofing the SBA’s loan relief webpage through phishing emails.
CUNA continued its strong push to include Paycheck Protection Program forgiveness language in the next phase of pandemic relief legislation Tuesday with a letter to Congress and an updated action alert calling on credit union stakeholders to support the bill.
Senate Republicans unveiled their version of the next phase of COVID-19 relief legislation late Monday, the HEALS Act. CUNA President/CEO Jim Nussle called on legislators to include Paycheck Protection Program (PPP) forgiveness language in the bill.
CUNA issued an action alert Monday calling on credit union stakeholders to support House and Senate bills that would simplify PPP loan forgiveness. The bills would allow small businesses that have received PPP loans of $150,000 and less to have their loans forgiven.
CUNA fully supports a bill from Rep Chrissy Houlahan (D-Pa.) and Rep Fred Upton (R-Mich.) that would simplify loan forgiveness from the Paycheck Protection Program (PPP). Houlahan and Upton introduced the bill Friday.
Credit unions, members and member small businesses need resources to get them through the pandemic and recovery period, including an extension of TDR and CLF expansion until at least 2021, plus liability protection and PPP forgiveness simplification.
Changes to regulations and the creation of new lending programs have, and will continue to help consumers affected by the COVID-19 pandemic, and Congress and the Small Business Administration should work to address PPP lender liability concerns
Staying true to the earliest beginnings, Suncoast CU has been focused on helping small businesses survive and thrive during the COVID-19 pandemic. Through June 30, Suncoast funded more than 1,900 loans under the Paycheck Protection Program totaling $49.5 million.
Credit unions have supported more than a million pandemic-affected members through the Paycheck Protection Program (PPP), CUNA Chief Advocacy Officer Ryan Donovan wrote Tuesday to all 535 Congressional offices.