Over the past several months, this committee has held numerous hearings on the ppp and heard from borrowers and challenges theyve faced in accessing the program. Ive travelled through the districts to speak with Business Owners about how they faired through the pandemic. And ive heard some of the successes and challenges they face with the ppp. And uncertainty about what the future holds. From borrower who is eventually access the loan, the Committee Heard concerns about complicated and 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 for proceeding consistent with the law so they could qualify for full loan forgiveness and effectively convert the loan into a grant which was the congressional intent i
These spiritual attributes that your name will be glorified throughout our nation and world. As our senators dedicate their lives to obey your precepts, direct them to your desired destination. Lord, give them a faith that will not shrink when at times they cannot see clearly the road ahead. Help them to place their total trust in you. We pray in your holy name. Amen. The president pro tempore please join me in reciting the pledge of allegiance. I pledge allegiance to the flag of the United States of america, and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Mr. Grassley madam president. The presiding officer the senator from iowa. Mr. Grassley i ask for one minute in morning business. The presiding officer without objection. Mr. Grassley imagine the people of the United States have been able to follow the demonstrations in bella rouse in opposition to the president declaring victory, since alexer chankov has con sol dated con
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
Commissioner moran here. Commissioner maxwell here. Commissioner paulson here. And we have a quorum. President caen good. Will you please read the announcement . During the covid19 Health Emergency and given the Public Health recommendations issued by the San Francisco department of Public Health and mayor breed, have lifted the restrictions on teleconference. This meeting is held Via Teleconference and televised by sfgovtv. For those of you watching the live stream, please be aware there is a brief time lapse between what is being viewed. On behalf of the commission, i would like to extend our thanks to tv and puc i. T. Staff for their assistance during this meeting. If you wish to make two minutes of Public Comment on an item, dial 14156550001, meeting i. D. , 146 087 5808, pound, pound. And star 3 to speak. Im going to ask the commission and staff to mute their microphones to minimize background noise if they have not already done so. Madame president , the first order of business i