NAR Letter to House Small Business Committee Regarding Their Paycheck Protection Program Hearing
Issue Date: March 10, 2021
On Wednesday, March 10, the House Small Business Committee held a hearing, “The Future of the Paycheck Protection Program.” In advance of the hearing, NAR submitted a letter to the Committee, thanking it for its focus on the important topic of PPP loans, and acknowledging the beneficial changes made to the program, including the new calculations for “Schedule C Filers” (independent contractors, sole proprietors, and the self-employed). NAR also made two requests: that the updated loan calculations for Schedule C filers be made retroactive to allow existing borrowers to get any difference in loan amount they would qualify for now versus when they applied; and, that the program be extended past the March 31st application deadline.