SBA Issues Guidance on PPP Loan Forgiveness and Loan Review Procedures

On May 22, 2020, the Small Business Administration (SBA) and Department of Treasury released additional guidance on both the Paycheck Protection Program’s (PPP) loan application process as well as process to obtain forgiveness.

This news follows an April 27, 2020, announcement that the SBA resumed accepting PPP applications from participating lenders thanks to an additional $310 billion in funding. To read more about this most recent round of funding and how to apply, click here.