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May 18, 2020

PPP Loan Forgiveness Application Now Available

The Small Business Administration (SBA), in consultation with the Department of the Treasury, has released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.

According to the press release which can be found HERE, the form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The SBA also indicated it will soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities. CLICK HERE to view the application and instructions.

We will provide additional guidance related to the application as it becomes available.