Below you can access information about federal, state, city and private resources in regards to coronavirus (COVID-19).
The SBA & U.S Department of the Treasury released the Paycheck Protection Program (PPP) Loan Forgiveness Application and related instructions. These documents will help small businesses seek forgiveness at the conclusion of the covered period, which begins with the disbursement of their loans.
The agencies have also published a new PPP EZ Application version that requires fewer calculations and less documentation for borrowers who:
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 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%
Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period. Check out the NYSBDC presentation on PPP loan forgiveness for further detail.