SBA Releases PPP Loan Forgiveness Application

The Small Business Administration (SBA) has released its much anticipated Paycheck Protection Program (PPP) loan forgiveness application, which may be found here. The loan forgiveness application provides useful guidance for borrowers, including calculators for purposes of determining the various components of a borrower’s ultimate forgiveness amount. This alert highlights key clarifications and discrepancies found in the loan forgiveness application and related guidance from previous SBA releases and the text of the Coronavirus Aid, Relief, And Economic Security (CARES) Act.

Authors and Contacts: David S. Berg | Seth R. Merl|Max Tierman | Alexis Wanzenberg

via Kramer Levin