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PPP Loan Forgiveness SBA Guidance

PPP Loan Forgiveness SBA Guidance

May 20, 2020

 

The US Small Business Administration has released its official Paycheck Protection Program (PPP) Loan Forgiveness Application Form and Instructions. Businesses who receive a PPP loan must submit the forgiveness application through their lender so that the loan effectively becomes a grant.

Links for their guidance as well as the application are below.

 

SBA INSTRUCTIONS AND APPLICATION

 

SBA PAYCHECK PROTECTION OVERVIEW


This simplified process includes options for borrowers to calculate payroll

 

costs; flexibility to include eligible payroll/non-payroll expenses; and step-by-step instructions.

 

 

 

The PPP was implemented through the CARES Act to distribute forgivable loans to eligible small businesses who could keep American workers paid during the pandemic. 

 

 

 

 

 

 

 

 

 

 

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