SBA has Opened its PPP Forgiveness Portal. Here's Why Many Small Businesses Will Have to Wait
Jeffrey Morlend was quoted in the article "SBA Has Opened its PPP Forgiveness Portal. Here's Why Many Small Businesses Will Have to Wait," which was published in the Boston Business Journal [sub. req'd].
Jeff comments on how banks are taking a wait-and-see approach to what has become a series of changing PPP requirements and shifting guidance and the expectation of additional changes in the future. He states that "they want to see how things go, and if guidance does come out or if the application is revised then they want to be able to wrap their heads around it and get their internal processes up to date before they start accepting applications. The number of applications that are going to flood in once the gates are open is pretty significant."