SBA PPP loan forgiveness update for 'good faith' errors - San Francisco Business Times

📆 13/02/2023 06:00:00
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Outside groups lobbied the SBA for months in 2022 on behalf of what they said were 300,000 business owners that may have been impacted.

The Small Business Administration will not make exceptions to its Paycheck Protection Program loan forgiveness rules for businesses that made honest mistakes on their applications.

left many business owners on the hook for errors they or their lender made when applying for PPP loans The SBA had previously estimated there were 304,384 PPP loans with excess loan amount errors of $3.775 billion, for an average excess loan amount error of $12,403. But those business owners will not see relief under the current rules.

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