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Paycheck Protection Program (PPP) Loan Forgiveness Application

The U.S. Small Business Administration (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 eight-week covered period, which begins with the disbursement of their loans.

The form and instructions include:

  • Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles

  • Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan

  • Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness

  • Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30

  • Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined

Click here to view the application and instructions.


As a reminder, the Paycheck Protection Program (PPP) extends loans at a fixed 1% interest rate and maturity of two years with six-month deferral to help small businesses and non-profit organizations to keep their workers on the payroll. Loan amounts are calculated as up to eight weeks of average monthly payroll (based on 2019 figures) including benefits, plus an additional 25% of that amount used for rent, mortgage interest, or utility payments made before February 15, 2020, up to a maximum of $10 million.

Importantly, SBA will forgive the loans if all employees are kept on the payroll for eight weeks and the loan funds are used for payroll, and other designated operating expenses. Applications for the loan are processed through eligible PPP lenders.

Click on the PPP application, and check out our website’s PPP program summary page for more detail.

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