BULLETIN
June 18, 2020 (UPDATE)
On June 16th, the U.S. Small Business Administration (SBA) and the Treasury Department released a new set of forgiveness application forms and instructions to help borrowers navigate the Paycheck Protection Program (PPP) loan program. The documents incorporate the changes made through the PPP Flexibility Act passed on June 5th.
Revised PPP Loan Forgiveness Application and Instructions:
- Forgiveness Application (5 pages)
- Application Instructions (7 pages)
EZ PPP Loan Forgiveness Application and Instructions:
- EZ Forgiveness Application (3 pages)
- EZ Application Instructions (4 pages)
The EZ form can be used if the borrower:
- Is self-employed with no employees; or
- Did not reduce employee pay by more than 25%; and did not reduce the number or hours of employees; or
- Did not reduce employee pay by more than 25%; and experienced reductions in business activity as a result of health directives related to COVID-19