A recent AICPA Town Hall offered a look into the status of Paycheck Protection Program loan forgiveness as many loans will require payments in July and August.
According to the AICPA, the Small Business Administration is picking up speed in forgiveness processing. Currently 71% of total PPP loans have not yet applied for forgiveness but of those process, 99% of loan value has been forgiven.
The presentation offered a loan forgiveness overview along with key forgiveness resources, such as a walkthrough the PPP Forgiveness Loan Calculator. Read the full presentation now and watch this video starting at the 42:30 minute mark.