Treasury says PPP loan forgiveness to begin soon (PYMNTS.com)

The US Department of Treasury said Tuesday it would soon begin forgiving loans granted under the Paycheck Protection Program after borrowers and lenders complained that the Small Business Administration, the program’s manager, and Treasury employees have failed to respond to forgiveness requests. A Treasury spokesperson said it expects to approve forgiveness requests by late this week or early next week, PYMNTS.com reported, citing a story in The Wall Street Journal. Most loans are expected to be forgiven quickly, while those in excess of $2 million will get added scrutiny.