The U.S. Small Business Administration, in conjunction with the Treasury Department, released a loan forgiveness application for the SBA’s Paycheck Protection Program, along with detailed instructions for the application.
The form and instructions tell borrowers how they can apply for forgiveness of their PPP loans, under the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act. The SBA also plans to issue regulations and guidance soon to provide further help to borrowers as they fill out their applications, and to give lenders guidance on their responsibilities.
