SBA and Treasury announce simpler PPP forgiveness for loans of $50,000 or less

WASHINGTON – The U.S. Small Business Administration, in consultation with the Treasury Department released a simpler loan forgiveness application for Paycheck Protection Program loans of $50,000 or less, Oct. 8.

This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.

“The PPP has provided 5.2 million loans worth $525 billion to American small businesses, providing critical economic relief and supporting more than 51 million jobs,” said Secretary Steven T. Mnuch...