On Friday, May 15, the Small Business Administration (SBA) released the much-anticipated Paycheck Protection Program (PPP) Loan Forgiveness Application.
As suspected, the forgiveness calculation and the required documentation will be much more cumbersome than the application process.
While we continue to wait for additional forgiveness guidance from the SBA, we have learned quite a bit about the forgiveness process from the application form and related instructions, including:
HORNE is working with financial institutions and borrowers to navigate the complexities of the Paycheck Protection Program application and forgiveness processes.
If you have questions about the PPP loan forgiveness process, HORNE is here to help. Click the button below to sign up for HORNE’s Forgiveness Assistance Program or contact us at PPPForgiveness@hornellp.com.
For all the latest resources and insights to help your business navigate the changes caused by the coronavirus pandemic, check out our COVID-19 Resource Hub.