SBA and Treasury Post Revised PPP Forgiveness Application
Thursday, June 18, 2020
The Small Business Administration, in consultation with the Treasury Department, today posted a revised Paycheck Protection Program (PPP) loan forgiveness and application implementing the PPP Flexibility Act of 2020.
It applies to borrowers who:
- Are self-employed and have no employees; OR
- Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
- Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%.
PPP Loan Forgiveness Application Form 3508EZ
PPP Loan Forgiveness Calculation Form