SBA and Treasury Announce Simplified PPP Forgiveness for Loans

The Small Business Administration and U.S. Treasury recently issued new guidance for small business owners with loans of $50,000 or less under the federal Paycheck Protection Program (PPP); more information is available here. Business owners who borrowed $50,000 or less can fill out a simplified one-page form and can ignore some of the calculations required of other borrowers. A link to the Form 3508S is available at sba.gov.