Banks and small businesses look to Congress to streamline PPP forgiveness

(CNBC) One of the main draws of the Paycheck Protection Program was the ability to have loans forgiven if the money was used as the law permitted — with 60% of the capital going to payroll and 40% to other allowable expenses. But as forgiveness opened up last month, some banks and small businesses are reporting difficulty navigating the process, and advocates are pushing for simplicity for already struggling companies.

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