The Upcoming Challenges Related to PPP Loan Forgiveness

In his latest piece, Ron Shevlin digs into the looming PPP forgiveness nightmare; the second round of the Paycheck Protection Program launched last week and many banks reported problems with the SBA’s system; the SBA subsequently launched a window for applications from banks that have less than $1 billion in assets; a challenge that small businesses will face is figuring out their forgiveness amount, tracking allowable expenses, and filing taxes; on the bank side they will have their own challenges with servicing the unforgiven portion of loans, debt categorization, audits and of course, customer service; Shevlin digs into all of these details in this piece written for Forbes. Forbes

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