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One reason why a Paycheck Protection Program loan may not have been forgiven

Our Paycheck Protection Program (PPP) dashboard shows that 10.5 million loans out of 11.5 million have been fully or partially forgiven. The average PPP loan was $42,000, so getting it forgiven (meaning you don’t have to pay it back) could be a big financial benefit.

Update: 11.5 million PPP loans were forgiven. Here's why.

More than 11.5 million Paycheck Protection Program (PPP) loans were issued as of October 2, 2022, with 649 borrowers receiving the maximum loan amount of $10 million.