The Small Business Administration (SBA) has announced new Paycheck Protection Program (PPP) Loan forgiveness guidance, including a revised forgiveness application and a streamlined application for certain borrowers.
The SBA has also introduced their “EZ Forgiveness Application” (and accompanying instructions) which is not as complex as their full forgiveness application. The EZ application also does not require as much documentation as the full application. Borrowers who can use the EZ application include:
In their announcement, the SBA noted that both applications allow for borrowers to choose using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period.
DGC has a proven process that utilizes our sophisticated model and incorporates our data analytics experience and accounting expertise to maximize PPP Loan forgiveness. If you have questions, please contact a member of your DGC client service team or George Shaw, CPA at 781-937-5125 / firstname.lastname@example.org or Kimberley Train, CPA, ABV at 781-937-5112 / email@example.com.