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Shaheen: More work to be done to streamline PPP forgiveness loans

Sen. Jeanne Shaheen/File
Sen. Jeanne Shaheen/File(WCAX)
Published: Sep. 26, 2020 at 12:53 AM EDT
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LEBANON, N.H. (WCAX) - Senator Jeanne Shaheen says more work needs to be done to streamline the forgiveness process for PPP loans.

Goekon is one of the thousands of businesses in New Hampshire to receive a total of $2.5 billion in assistance. The company makes measuring equipment for infrastructure and mining projects.

While businesses say PPP was a lifesaver for their bottom line, there is concern the forgiveness application is overly cumbersome, which could unintentionally end up saddling companies with unexpected debt.

“That is always a concern when the regulations continue to change when there is a lack of confidence that we have seen the last of the guidance and rule changes, but as of today we are confident,” Scott Barden said.

Sen. Shaheen says more needs to be done to streamline the process. She is also advocating that all payments under $150,000 to be forgiven automatically.

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