SBA releases PPP Loan forgiveness application, detailed instructions
The Small Business Administration, in consultation with the Department of the Treasury, has released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.
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 will soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.
The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers including:
The documents released May 15 will help small businesses seek forgiveness at the conclusion of the eight-week covered period, which begins with the disbursement of their loans. Download Application
More than $100 billion in PPP funds still available
PPP funds are still available for small businesses, sole proprietors, independent contractors, self-employed persons, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, and Tribal businesses.
To apply for this forgivable loan, connect with one of more than 5,400 lenders to start the process using the PPP Lender Finder or by contacting the local SBA office.
|Window on the Clearwater
P.O. Box 2444
Orofino, ID 83544
Phone: (208) 476-0733
Fax: (208) 476-4140