On June 17, the U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020. In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:
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SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program
Topics: COVID-19 Federal Advocacy Small Business Administration
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SBA Releases PPP Loan Forgiveness Application and Instructions
On May 15, the SBA released a standardized PPP loan forgiveness application with instructions. The SBA still intends to publish additional rules and guidance on the program’s forgiveness provisions, but highlights from the release – and answers to a few outstanding questions – include:
