Repeated changes to the SBA’s Paycheck Protection Program are complicating the process of getting loans forgiven. One banker says the application “looks like the bar exam.”
Small businesses that received government-backed loans to ease the pain of the coronavirus pandemic are beginning to turn to a process some say is as complex as getting the money: figuring out whether they have to pay it back.
Some small-business owners have spent dozens of hours wading through the 11-page forgiveness application for Paycheck Protection Program loans. Others are trying to determine how or whether legislation President Trump signed earlier this month changes the math. Some lenders say the government is putting...
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