SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less

On October 8, the U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action simplifies the PPP forgiveness process while ensuring proper management of taxpayer dollars. The Small Business Administration began to approve PPP forgiveness applications and sending forgiveness payments to PPP lenders on behalf of PPP borrowers on October 2, 2020. To learn more about the simpler PPP loan forgiveness process and download the simpler loan forgiveness application, read this article.

 

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