ABSTRACT

Next Steps for the Paycheck Protection Program, Hearing Before the Committee on Small Business, United States House of Representatives, One Hundred Seventeenth Congress, First Session, March 10, 2021   [open pdf - 19MB]

This is the March 10, 2021 hearing on "Next Steps for the Paycheck Protection Program," held before the House of Representatives Committee on Small Business. From the opening statement of Nydia M. Velazquez: "One of Congress' earliest and most effective means of distributing relief to small businesses was through the Paycheck Protection Program [PPP]. Congress created PPP through the CARES [Coronavirus Aid, Relief, and Economic Security] Act to provide fully guaranteed, forgivable loans to meet payroll costs and other business expenses. Today, PPP is still providing urgently needed funding. The program accepts applications for first- and second-draw loans, and has approved 2.1 million loans, totaling $156.2 billion during 2021. [...] Today's hearing is timely. I hope that it will give us the opportunity to examine the impact the Biden administration reforms have made on small business owners and lenders and help us identify ongoing challenges we continue to hear about from borrowers and lenders alike. I look forward to hearing from our panelists about the current state of PPP and their recommendations on the program's future." Statements, letters, and materials submitted for the record include those of the following: Hilda Kennedy, Lisa Bombin, Lisa Simpson, and Alice Frazier.

Report Number:
Small Business Committee Document Number 117-005
Publisher:
Date:
2021
Copyright:
Public Domain
Retrieved From:
U. S. Government Publishing Office: http://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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