To amend the Small Business Act to include excess loan amount errors in the forgiveness of a paycheck protection program loan, and for other purposes.
Small-Dollar PPP Forgiveness Simplification Act of 2021
This bill makes changes to the Paycheck Protection Program (PPP) to with respect to forgiveness of certain PPP loans.
Specifically, the bill includes as covered loans under the PPP loan forgiveness program excess loan amounts that were received due to a good faith error.
The bill also increases the threshold, from $150,000 to $350,000, used to determine whether a PPP loan may use the simplified forgiveness application.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
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