SBA Revises PPP Loan Forgiveness Application

The Small Business Administration (SBA) has revised the Paycheck Protection Program (PPP) Loan Forgiveness Application and also created a shortened form for those who meet the requirements. (Previously the guidelines for loan forgiveness were changed to give more flexibility in the amount of time to use the funds and the amount required to be used for payroll.)

Additional details and links to the applications

Paycheck Protection Program Flexibility Act (PPPFA) Signed

For employers struggling with how to use the funds from their PPP loan, the Paycheck Protection Program Flexibility Act (PPPFA) was signed into law on June 5th, 2020. It includes an extension of the amount of time allowed to use the funds and requires a smaller percentage to be used for payroll in order to have the loan forgiven. Additional details