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The PPP loan forgiveness process should be efficient and borrower-friendly, which is why I sent a letter to the Small Business Administration and Treasury urging them to revise the application. Today @SBAgov released a revised application: https://content.sba.gov/sites/default/files/2020-06/PPP%20Loan%20Forgiveness%20Application%20%28Revised%206.16.2020%29.pdf …
They also released a new EZ forgiveness app that requires fewer calculations & applies to borrowers who are: - Self-employed & have no employees, or - Didn't reduce the salaries or wages of their employees by more than 25%, & didn't reduce the # or 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%. The EZ forgiveness application can be accessed here: https://content.sba.gov/sites/default/files/2020-06/PPP%20Forgiveness%20Application%203508EZ%20%28%20Revised%2006.16.2020%29.pdf …
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