Last week, the U.S. Small Business Administration, in consultation with the Department of the Treasury, released an updated PPP loan forgiveness application.
The organization also released a new EZ version of the PPP loan forgiveness application for borrowers that meet one of the following criteria:
Self-employed with no employees
An employer who did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees
An employer who experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%.
To learn more about this simplified forgiveness application and the revised full forgiveness application requirements, click here to visit the US SBA website.
For questions regarding your account or relevant services offered by Bookkeeping Express call 720-213-8040 or contact us here.
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