Citicorp has told its customer companies that took advantage of the Payroll Protection Program (PPP) that applications for loan forgiveness should be coming over the next few weeks. We assume the other major banks will be doing the same. The various steps to take will be spelled out on emails and hopefully won’t be too complex to complete.
Meantime in D.C., Fortune says the Senate has extended PPP until August 8, the very same day they’re expected to end their current work period and complete their next round of stimulus. The first go-round of PPP applications was to have expired June 30, so this extension should be welcome news to anyone who failed to apply in time.