If you have not applied for forgiveness, now is the time and the deadline may be fast approaching.
On Wednesday, June 3, the Senate passed the House version of the Paycheck Protection Program Flexibility Act of 2020. As its name suggests, the legislation is intended to give borrowers more flexibility by extending the amount of time to spend PPP funds and by relaxing other requirements. The bi-partisan legislation is expected to be signed by President Trump.
On Friday, May 15th, the SBA in consultation with the Treasury released an application and instructions for PPP loan forgiveness.