U.S. SBA says has forgiven over 1.1 million PPP loans for more than $100 billion

(Reuters) – The U.S. Small Business Administration (SBA) said on Tuesday it has forgiven more than 1.1 million Paycheck Protection Program (PPP) loans for over $100 billion, adding that “small borrowers” make up a large majority of forgiveness applicants.

(Reporting by Kanishka Singh in Bengaluru; Editing by Himani Sarkar)