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. The SBA claims 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.
Foley Hoag has formed a firm-wide, multi-disciplinary task force dedicated to client matters related to the novel coronavirus (COVID-19).
