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PPP Loan Forgiveness SBA Guidance

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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