ICBA thanked Reps. Ann Wagner (R-Mo.) and Wm. Lacy Clay (D-Mo.) for introducing legislation to establish a free online calculator to complete Paycheck Protection Program loan-forgiveness forms.
The Calculate Loan Forgiveness Act (H.R. 7413) would implement the ICBA-advocated policy to require the SBA and Treasury Department to establish or certify a free, accurate, and publicly accessible online calculator to help lenders and small businesses.
In its letter, ICBA said loan-forgiveness applications remain overly complex and are an unnecessary distraction for borrowers and lenders in a challenging environment.