The Nevada Bankers Association is joining other local business organizations in pushing for a more simplified and streamlined process to help small businesses comply with the loan forgiveness requirements of the Paycheck Protection Program (PPP).
The NBA is part of a statewide group that includes the Vegas Chamber of Commerce, Reno Sparks Chamber of Commerce, Latin Chamber of Commerce, Economic Development Authority of Western Nevada, Nevada REALTORS®, Nevada Restaurant Association, Retail Association of Nevada and others.
Leaders of these organizations representing thousands of Nevada businesses are urging the U.S. Treasury and Small Business Administration to create a one-page “PPP-EZ form” that businesses could complete to acknowledge that they spent the majority of their PPP loan funds to preserve the jobs of their employees – as required by the CARES Act to have the loans forgiven by the government.
The trade groups have urged government officials to act quickly, before businesses are forced to spend even more time and resources on paperwork to prove they’re complying with the law.
To support the “EZ forgiveness movement,” small business owners can contact the U.S. Treasury or the SBA.