The U.S. Department of Treasury (Treasury) and the Small Business Administration (SBA) recently released the Paycheck Protection Program (PPP) Loan Forgiveness Application (Application) and instructions (Instructions) for small businesses to use when applying for PPP loan forgiveness with their lender.
The release of this Application has been much-anticipated by U.S. small businesses that were able to secure financial relief through the PPP, as many were wondering about next steps with regard to PPP loan forgiveness.
The three-page document linked below provides a general overview of the Application and information about loan forgiveness eligibility under the PPP.
For questions on your company's loan forgiveness eligibility or Application, contact your lender.
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This regulatory update is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.