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FOR IMMEDIATE RELEASE | October 09, 2020

NAFCU Statement on New Forgiveness Process for PPP Loans Under $50,000

WASHINGTON – The National Association of Federally-Insured Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement after the Small Business Administration (SBA) and Treasury announced a streamlined forgiveness process for PPP loans under $50,000:

“We appreciate the SBA and Treasury’s commitment to streamlining the PPP loan forgiveness process, and the agency’s new forgiveness application for loans under $50,000 is a strong step in the right direction,” said NAFCU President and CEO Dan Berger. “PPP loans have been critical in helping main street small businesses and our local communities meet the challenges posed by the coronavirus pandemic. NAFCU looks forward to continuing to work with the SBA and Treasury to streamline the PPP loan forgiveness process.”

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The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
 

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