With the Senate scheduled to vote today on a stimulus package that includes ICBA-advocated PPP forgiveness simplification, ICBA is calling on community bankers and their small-business contacts to weigh in on key PPP issues.
Grassroots continues ahead of Senate PPP vote
October 21, 2020 / By ICBA
With the Senate scheduled to vote today on a stimulus package that includes ICBA-advocated PPP forgiveness simplification, ICBA is calling on community bankers and their small-business contacts to weigh in on key PPP issues.
With the Senate scheduled to vote today on a stimulus package that includes ICBA-advocated PPP forgiveness simplification, ICBA is calling on community bankers and their small-business contacts to weigh in on key PPP issues.
While the stimulus bill is not expected to pass, ICBA encourages community bankers to direct borrowers to ICBA's small-business alert addressing the deduction of Economic Injury Disaster Loan advances from PPP loan forgiveness. A separate alert on ICBA's Be Heard grassroots action center is available for community bankers.
While borrowers may receive up to a $10,000 EIDL advance, those funds will be deducted from PPP loan forgiveness. This has left some borrowers with a substantial unforgiven balance that must be repaid and community banks with loans on their books that they didn't make.
Meanwhile, ICBA continues calling on community bankers and small-business owners to urge Congress to immediately pass bipartisan legislation to simplify PPP forgiveness.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
