Monday 06/22/2020

New PPP Forgiveness Applications

The SBA released two new applications for PPP forgiveness, as the follow-up to the PPP Flexibility Act that recently passed in Congress. The SBA developed a simplified application, the EZ application, which is three pages, and the regular application is now five pages. To use the EZ application, you must meet one of the below […]

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Monday 06/08/2020

Paycheck Protection Program Flexibility Act

More changes, but more flexibly! Now signed by the President, the PPP Flexibility Act protects and promotes the original intent and goals of the Paycheck Protection Program: to help borrowers reach full, or almost full, loan forgiveness. While things are still not yet final, here’s what we know right now: The Changes: The Act changes […]

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Monday 05/18/2020

Applying for PPP Forgiveness Instructions

Now that the official forgiveness application has been released, here’s what you need to know about the application process and what documentation you’ll need. As a reminder, borrowers will need to complete this application at the close of their 8-week period. The following components are outlined in the application: (1) the PPP Loan Forgiveness Calculation […]

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Highlights from SBA Guidance on Forgiveness

The SBA and Department of the Treasury have released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions. Most of our outstanding questions have been answered but a few still remain. We’ve put together a summary of what you need to know regarding this additional guidance: Aligning Eight Week Forgiveness Window to Payroll […]

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