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After weeks of speculation and discussion, the SBA has released the Paycheck Protection Program (PPP) Loan Forgiveness Application on May 15, 2020. This eleven page document provides instructions for loan forgiveness calculations along with calculation forms and worksheets. The following ten questions were answered and clarified in the PPP Loan Forgiveness Application:
Based upon a press release from the U.S. Department of the Treasury on May 15, 2020, the SBA will also be issuing regulations and guidance in the near future to further assist Borrowers and Lenders.
Please reach out to our Business Services Group with questions regarding the PPP Loan Forgiveness Application.
Attorney Loren Speziale collaborates with business owners and human resource professionals, providing legal guidance for a wide variety of operational and personnel matters.