SBA RELEASES REVISED PPP LOAN FORGIVENESS APPLICATION FOR BORROWERS WITH LOANS OF $150,000 OR LESS
On January 19, 2021, the Small Business Administration (SBA) released the revised Form 3508S for First Draw and Second Draw Paycheck Protection Program (PPP) borrowers seeking forgiveness on loans of $150,000 or less. As detailed in the Consolidated Appropriations Act, 2021, this one-page form provides a simplified loan forgiveness process for borrowers meeting this loan…
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