We are meeting today to conduct an important hearing on the Small Business administration Paycheck Protection Program, or ppp, specifically, review review of the loan forgiveness process. I want to thank each of the witnesses for their testimonies today. Over the past several months, this committee has held numerous hearings on the ppp, and weve heard from borrowers and lenders about the challenges theyve faced in accessing the program. Ive also traveled across my district of burlington and ocean counties in new jersey to speak with Business Owners about how theyve fared during the pandemic, and ive heard some of the successes and challenges theyve faced with ppp and uncertainty about what the future holds. From borrowers who eventually did access a loan, the Committee Heard concerns about complicated, unclear, and sometimes conflicting Program Rules and other requirements associated with loan forgiveness. Lenders also expressed a great deal of frustration over the needlessly complicat
Hearings on the ppp, and weve heard from borrowers and lenders about the challenges theyve faced in accessing the program. Ive also traveled across my district of burlington and ocean counties in new jersey to speak with Business Owners about how theyve fared during the pandemic, and ive heard some of the successes and challenges theyve faced with ppp and uncertainty about what the future holds. From borrowers who eventually did access a loan, the Committee Heard concerns about complicated, unclear, and sometimes conflicting Program Rules and other requirements associated with loan forgiveness. Lenders also expressed a great deal of frustration over the needlessly complicated rules and reported feeling unable to adequately help their borrowers through the forgiveness process. Through it all, borrowers simply wanted to ensure they were using loan proceeds consistent with the law so they could qualify for full loan forgiveness, and effectively convert the loan into a grant, which was the
Switch the dow around would we be looking at essentially the same falloff . Essentially we would. This is taking nine of 12 key sectors down. Financials are holding up pretty well today but a lot of this was driven right now by concerns, comments made by dr. An any fauci. I believe he was doing interview on cnn he expressed doubts having a vaccine ready by october. I think there was leaping on that as excuse to sell, just as it could be a leap on Mitch Mcconnells comments that we might not get a deal together, spending measure, virus, stimulus deal together anytime soon. And that he doubts they will be on the same page, republicans and democrats anytime soon. Add to that that weve got new u. S. China tensions. This didnt get as much attention. It has nothing to do with trade per se but with the administration move to impose restrictions on chinese diplomats already here. I do think when you get a selloff going, people collect all of this together, say, sell, sell. It is not that neat a
Plus, called out by kaepernick. Why the former quarterback is slamming the nfl for its new campaign in support of racial justice. Rachael ray takes us inside her kitchen for a first look inside her home after a devastating fire. Later the new music trend setting a retro record. Announcer from abc news in new york this is america this morning. Good monday morning. We begin with this historic Hurricane Season spawning another major threat to the gulf coast. Tropical storm sally is expected to grow into a rran states of emergency have been declared in louisiana and mississippi. New orleans is bracing for the possibility of a direct hit. The big concern is just how slow the storm is moving. This morning millions of people along the gulf coast bracing for a new round of dangerous winds and deadly flooding. Lld to make landfall early tomorrow as a category 1 or 2 hurricane. Mandatory evacuations have been ordered in mississippi and louisiana with the storms new path putting new orleans in th
Plus, called out by kaepernick. Why the former quarterback is slamming the nfl for its new campaign in support of racial justice. Rachael ray takes us inside her kitchen for a first look inside her home after a devastating fire. Later the new music trend setting a retro record. Announcer from abc news in new york this is america this morning. Good monday morning. We begin with this historic Hurricane Season spawning another major threat to the gulf coast. Tropical storm sally is expected to grow into a hurricane today. States of emergency have been declared in louisiana and mississippi. New orleans is bracing for the possility of a d the big concern is just how slow the storm is moving. This morning millions of people along the gulf coast bracing for a new round of dangerous winds and deadly flooding. Sally is expected to make landfall early tomorrow as a category 1 or 2 hurricane. Mandatory evacuations have been ordered in mississippi and louisiana with the storms new path putting new