The House extended the PPP for another five weeks as there are still resources available to business owners.
Additionally, there is a push to streamline the forgiveness for loans under $150,000. The new legislation would require to submit a one-page attestation form to the lender. Note that business owners, banks, tax professionals and other groups are supporting this streamline process to save time and resources on the lower amount PPP loans.
Link Article 2 – https://www.forbes.com/sites/advisor/2020/07/01/senate-extends-ppp-five-more-weeks-indicates-more-help-to-come/#7abc8ba53db0
