| The U.S. Small Business Administration, in consultation with the Department of the Treasury, recently posted a revised, borrower-friendly PPP loan forgiveness application. In addition to revising the full loan forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that: Are self-employed and have no employees; OR Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number of hours of their employees; OR Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%. Read the full press release here for more details. |
