SBA releases Paycheck Protection Program loan forgiveness application

SBA releases Paycheck Protection Program loan forgiveness application tjordan_drupal May 19, 2020

The Small Business Administration Friday released the application that borrowers must submit to the lender servicing their Paycheck Protection Program loan to request forgiveness for some or all of the loan.

The application contains worksheets to calculate whether the borrower qualifies for loan forgiveness and, if so, how much of the loan may be forgiven based on the value of the loan received, relevant payroll and nonpayroll costs for the loan period, and any adjustments to the number of employees and compensation. The application