SBA's Updated, Simplified PPP Forgiveness Policy

The SBA has made it easier for small businesses who borrowed $50,000 or less to apply and be approved for forgiveness.

We're anticipating additional guidance and a similar forgiveness initiative for higher loan sizes as well.

Here are the links to the application itself, the instructions, and the final rule regarding the simplified forgiveness.

Link to simpler forgiveness application: https://www.sba.gov/sites/default/files/2020-10/PPP%20Loan%20Forgiveness%20Application%20Form%203508S.pdf

Link to simpler forgiveness application instructions: https://www.sba.gov/sites/default/files/2020-10/PPP%20Loan%20Forgiveness%20Application%20Form%203508S%20Instructions.pdf Link to Interim Final Rule on the simpler forgiveness process: https://www.sba.gov/sites/default/files/2020-10/PPP%20-%20IFR%20--%20Additional%20Revisions%20to%20Loan%20Forgiveness%20and%20Loan%20Review%20Procedures%20Interim%20Final%20Rules.pdf