The Small Business Administration released a host of new guidance yesterday. It also announced two new applications for “EZ Forgiveness” and full forgiveness.
If you want to know more about the forgiveness process on the back end, the SBA and Treasury published new, revised, more-borrower-friendly PPP forms:
In addition to revising the full forgiveness application, SBA also published a new EZ version that applies to some borrowers.
For more information on these forms, you can read the full news release.
Yesterday, the SBA announced that borrowers still can apply for an SBA PPP loan. The program has more than $100 billion in funds remaining. The deadline to submit loan applications to the SBA is June 30. Sole proprietors, self-employed individuals, and other business owners are eligible to apply.
Also, SBA has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19. Important points to consider are: