SBA and US Treasury Release PPP Loan Application Updates

The Small Business Administration (SBA) and Department of the Treasury jointly released updates to the Paycheck Protection Program (PPP) Loan Forgiveness Application and instructions for the application. In addition to these revisions, a simplified, or “EZ”, application was created for eligible borrowers that meet specific criteria.

These releases came shortly after the SBA issued a new interim final rule guiding borrowers on the calculation of owner, and employee compensation for loan forgiveness under the new 24-week covered period.