Urge House Members to Support PPP Forgiveness Legislation

With H.R. 7777, a bill to simplify the forgiveness process for Paycheck Protection Program loans, recently introduced in the House, MBA continues urging bankers to ask their representatives to support the legislation.

This legislation, which has a companion bill in the Senate, would allow PPP loans of $150,000 or less to be forgiven once the borrower completes a one-page forgiveness attestation. The bill is expected to ease the forgiveness process for approximately 86% of PPP borrowers, in addition to saving an estimated $7 billion and hours of paperwork.

MBA asks bankers to add their voices to the chorus and contact their representatives to support H.R. 7777.