Please be aware that the Small Business Administration (SBA) has released the Paycheck Protection Program (PPP) Loan Forgiveness Application and instructions for the application, available 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).
According to the SBA, they will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.
As information and clarifications on the application continue to evolve by the day, our team is committed to staying up-to-date on the latest updates and will be sharing additional resources as available. In the meantime, click here to see a high-level comparison chart outlining expense forgiveness and timing.
With the intricate calculations and details required by the application to confirm eligibility for loan forgiveness, our team is available to assist you and your business complete your application. Please call our office with questions.