The US Small Business Administration (SBA) and Treasury have published updated Paycheck Protection Program (PPP) loan forgiveness guidance and forms, including a one-page application for borrowers that received a PPP loan of $150,000 or less.
The form seeks information about the borrower’s loan amount, disbursement date, employee totals, covered period dates, amount of the loan spent on payroll and the amount of the loan for which forgiveness is being sought.
The SBA and Treasury also released two other PPP loan forgiveness applications and a form that certain individuals must use to disclose controlling interest in an entity applying for PPP loans.
Additionally, the SBA and Treasury released an interim final rule consolidating prior PPP loan forgiveness rules and incorporating changes made by the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act.
All forms released apply to first- or second-draw PPP loans. Learn more.