WASHINGTON, D.C. – Today at 10:45 am ET at the House Triangle, and live-streamed on the Center for Responsible Lending’s Facebook page, Congresswoman Chrissy Houlahan (D-PA) and affected small business owners will call attention to the financial devastation more than 300,000 American small businesses are now facing due to unforgiven PPP loans totaling more than $3.7 billion, and to demand that the U.S. Small Business Administration (SBA) act immediately to rescind the “Good Faith Error” rule, which currently prevents lenders from forgiving the loans.

Center for Responsible Lending Researcher Sunny Glottmann, who will speak at the upcoming event, issued the following statement:

Despite their best efforts to comply with rapidly changing PPP rules, many of the smallest businesses now owe an unexpected debt that threatens their very survival. This burden is disproportionately shouldered by microbusinesses and businesses owned by people of color. Congress and the SBA should rescind the Good Faith Error rule and remove additional barriers to loan forgiveness.

  • What: Press Conference
    Demanding SBA Reverse the “Good Faith Error” Rule on PPP Loan Forgiveness
  • Who: U.S. Representative Chrissy Houlahan (D-PA)
    • Ken Kimber, Director of Small Business Recovery and Resiliency, American Business Immigration Coalition
    • Sunny Glottmann, Researcher, Center for Responsible Lending
    • Quintin Reed, Government Affairs Assistant, Small Business Majority
    • Heather Sheppard, Owner, Allegro dance and fitness studio, Oswego, IL
    • Bob Kleinschmidt, Owner, C3 Transform organizational consulting, Baltimore, MD
    • Ember Sieman, Owner, Mad Ethel’s Tattoos, Raleigh, NC
    • Rob Stokes, Owner, Assured Solutions computer consulting, Dallas, TX
    • Amy Yassigner, Owner, Yazz Jazz Music and Productions, Deer Park, IL
    • Adam Levin, Owner Marc Sid Limited home restoration firm, Los Angeles, CA
    • Cynthia Ohman, Cynthia Ohman Media aka COMEDIA, Seattle, WA
    • Mabel Delgado, Aurora Environmental Services, Inc, San Francisco, CA
  • Where: House Triangle, Washington, DC (lawn in front of SE corner of U.S. Capitol)
  • When: Wednesday, September 28, 2022, 10:45 a.m. ET

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Press Contact: Matthew Kravitz matthew.kravitz@responsiblelending.org

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