Recently, the Small Business Association (SBA) released the much-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application, which can be found here. The application instructions can be found here. Once completed, the application must be submitted to the lender (the lender servicing your PPP loan), in addition to any other documentation your lender may require.
The application contains four key components:
- The PPP Loan Forgiveness Calculation Form
- The PPP Schedule A
- The PPP Schedule A Worksheet
- The PPP Borrower Demographic Information Form
Only items #1 and #2 above are required for submission to your lender.
PYA continues to analyze the forgiveness application form and will publish additional information and specifics soon. If you need assistance or would like additional COVID-19 guidance, visit our COVID-19 hub, or contact one of our PYA executives below at (800) 270-9629.
*Disclaimer: The information above is only a non-exhaustive summary of select provisions of the CARES Act; the full text of the Act can be read here.