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SBA PPP loan forgiveness update for 'good faith' errors - Jacksonville Business Journal

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Bad news for businesses seeking forgiveness for PPP loan errors

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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