18 May Paycheck Protection Program Forgiveness Application

The Small Business Administration (SBA) has released the Paycheck Protection Program (PPP) Loan Forgiveness Solicitud and detailed instructions for the application.The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including: