1/20/2021 – New Application and Forgiveness Forms Released
The SBA released multiple documents last night related to 1st and 2nd round PPP draws in 2021 as well as forgiveness applications submitted in 2021. The links on our PPP Page have been updated to reflect these new applications.
Another document the SBA issued consolidated all of the rules they had previously issued related to PPP forgiveness into one document and added any relevant information from the Economic Aid Act. This 62-page document can be found here.
The SBA also released a new interim rule to clarify how borrowers should calculate their revenue reduction and maximum loan amounts for the 2nd round of PPP draws. This document can be found here.
The last item that was released was a document to help eligible borrowers obtain a 1st round PPP draw if they had not previously received on. This document can be found here.
As always, let us know if you have any questions!