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May 6, 2020: MGMA urges SBA to release additional PPP loan forgiveness guidance

Advocacy Letter - May 6, 2020

Financial Management

Disaster Planning

Advocacy Categories

May 6, 2020

The Honorable Jovita Carranza
U.S. Small Business Administration
409 3rd Street, SW
Washington, D.C. 20416

Re: Paycheck Protection Program Loan Forgiveness Guidance

Dear Administrator Carranza,

On behalf of our member medical group practices, the Medical Group Management Association (MGMA) urges you to immediately release guidance regarding Paycheck Protection Program (PPP) loan forgiveness as required under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R. 748). Section 1106 (“Loan Forgiveness”) of the CARES Act dictates, “Not later than 30 days after the date of enactment of this Act, the Administrator shall issue guidance and regulations implementing this section.” The CARES Act was signed into law on March 27, 2020 and thus the thirty-day mark has since passed without the Small Business Administration (SBA) issuing loan forgiveness guidance.

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