SBA forgives 1.1M Paycheck Protection Program loans so far, totaling over $100B

WASHINGTON – The U.S. Small Business Administration has already forgiven more than 1.1 million Paycheck Protection Program loans for over $100 billion, providing an extraordinary amount of critical relief to America’s small businesses three months since the earliest PPP borrowers’ covered periods ended.

“Today’s news is a key indicator that the PPP is working for all small businesses across our Nation,” SBA administrator Jovita Carranza said. “For any eligible small business continuing to struggle due to the coronavirus pandemic, the program has reopened for new and certain existing PPP borrow...