The Small Business Administration, in conjunction with the Department of the Treasury, has released the Paycheck Protection Program (PPP) Loan Forgiveness Application. This will assist those who have received a PPP loan in applying for forgiveness after the eight-week coverage period.
The application provides borrowers with step-by-step instructions on how to perform the required calculations for forgiveness of PPP loans as authorized by the CARES Act.
Additional guidance is expected to be released soon. You can find the official press release here and the application with instructions here.
