SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.
The Treasury and SBA have also eased the burden on PPP lenders, allowing lenders to process forgiveness applications more swiftly. On October 2, the SBA began approving PPP forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers.
Click here to view the simpler loan forgiveness application.
Click here to view the instructions for completing the simpler loan forgiveness application.
Click here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less.
Do you have questions regarding PPP forgiveness? Attend the SBA's South Florida District Office's PPP "Next Steps Webinar" to learn more about the process:
Tuesday, October 13 • 1PM • Register Here
Wednesday, October 14 • 1PM • Register Here
Thursday, October 15 • 1PM • Register Here