10/09/2020 11:14:17 AM
GREAT NEWS! The SBA has released a simplified PPP forgiveness app for loans of $50K or less. There is now a simple 1-page form. The original application is complex. So, this simplified form will save you much time and money! You will still have to submit documentation to confirm the use of PPP money on qualified items. But gathering the required documentation will be the hardest part of the process!
You can learn a lot by simply reading the new application, so take a look.
We will post a list of the required documentation to submit with the application soon. In the interim, you can find the instructions here, which contains the list of required documentation.
There was previously talk of a simplified application for loans under $150K. We now have the simplified PPP forgiveness app for PPP loans of $50K or less. We don’t know yet if there will be a further simplification for loans between $50K and $150K. We’ll keep you posted!