Lucas helps introduce bipartisan PPP Small Business Forgiveness Act

Lucas, Colleagues Introduce Bipartisan Paycheck Protection Small Business Forgiveness Act Washington, D.C. – Today, Congressman Frank Lucas (OK-03) joined U.S. Representatives Fred Upton (R-MI) and Chrissy Houlahan (D-PA) in introducing bipartisan legislation to expedite forgiveness for Paycheck Protection Program (PPP) loans of $150,000 or less. The Paycheck Protection Small Business Forgiveness Act would streamline for process for certifying compliance with PPP requirements and expedite the loan forgiveness process for small businesses. “There’s no question about it, the Paycheck Protection Program has been a lifeline for Oklahoma’s small businesses- more than 127,000 jobs in Oklahoma’s Third District. The Paycheck Protection Small Business Forgiveness Act would forgive Paycheck Protection Program loans under $150,000, helping Oklahoma’s small businesses navigate the forgiveness process,” said Congressman Lucas. “These loans represent more than 90 percent of the loans in the Third District of Oklahoma, but only about 30 percent of the total dollar value. As Congress continues to provide additional relief to those hit hardest by COVID-19, I will continue to work with my fellow colleagues to help remove the shroud of uncertainty for small businesses as we weather this health crisis.” Read more » by Jamison Faught - July 27, 2020 at 06:49PM

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