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SBA Implements Application for PPP Loan Forgiveness

Date: June 23, 2020

The Small Business Administration has released an updated application form for Paycheck Protection Program borrowers seeking loan forgiveness. Under the PPP Flexibility Act, borrowers who received PPP loans prior to June 5 will have the option to choose either an eight-week or a 24-week “covered period” during which they can spend their loan proceeds. You can view the new form here, the form instructions here and the SBA’s rule implementing the changes here.

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