PPP debt forgiveness to open ‘flood’. Small businesses stand here.

The Small Business Administration is facing a mountain of paycheck protection program loan documents and forgiveness applications as “floodgates” open on small businesses asking to forgive their loans.

And it will likely take a toll.

“I think the apology is reaching out as expected – most people expected it to be painful,” said Dan O’Malay, CEO of the business lending automation company Numerte said that reviewing loan documents was a fairly intensive process is. “The first application for apology on our platform contained 2,000 documents. Even a document in a minute, it is a lot of work. “

Read the full story on Cleveland Business Journal, the sister site of Clavalpiece.

Get the best in local business news sent directly to your inbox with the Cleveland Business Journal. Free to sign up.

Leave a Reply