Advocacy & Practice Updates — Advocacy & Practice
PPP Loan Forgiveness Applications Now Available
This week, the Small Business Administration (SBA) and the Department of the Treasury released a loan forgiveness application and instructions for borrowers in the Paycheck Protection Program (PPP). The form and instructions include a worksheet to assist borrowers in calculating their estimated forgiveness amount and a list of documents that must be submitted with the application or retained by the borrower. Applications must be filed with the lender making the loan. Some lenders may have electronic applications available through their websites. Additional guidance or rulemaking is expected from SBA and/or Treasury.