New forgiveness application for PPP borrowers with smaller loans

Small businesses that obtained PPP loans of $50,000 or less can now use a streamlined application to apply for forgiveness. This is expected to affect about 3.6 million borrowers according to the SBA. The SBA and Treasury Department remain committed to making the forgiveness process as simple as possible while providing protections against fraud. The new form is a single page of required information and a page where voluntary information could be submitted voluntarily.

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