SBA Releases Borrower Instructions for PPP Loan Forgiveness
On Friday evening, May 15th 2020, the SBA and Treasury Department released the application that borrowers must complete in order to have their PPP loan forgiven. The form includes detailed information about the costs that are eligible for forgiveness and instructions for calculating those costs.
You can access the PPP Loan Forgiveness Instructions HERE.
SBA noted that it will soon issue regulations and additional guidance for borrowers on completing the forgiveness form, please continue to visit the SBA’s website for updates.
We will keep you informed as new information becomes available, however, we strongly advise you to seek counsel from your accountant or tax advisor concerning the specifics of your particular situation.
Our goal is to make sure that all of our customers are fully complying with the provisions of the program and obtaining the maximum benefit from participating in the PPP.