Business Alert

SBA Announces Simpler PPP Forgiveness for Loans Less Than $50k

October 13, 2020

The U.S. Small Business Administration (SBA) has announced that it is rolling out a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. According to the SBA press release, the new, more streamlined form “requires fewer calculations and less documentation for eligible borrowers” seeking PPP loan forgiveness, while protecting against fraud and misuse of funds.

  • 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.
  • Click here to view the full SBA press release.

For more information on this topic, please contact Jennifer AudehThomas Draper, or Malcolm Henderson.

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