SBA Issues New Forgiveness Guidance for PPP Loans of $50,000 or Less
On October 8, 2020, the Small Business Administration (SBA), in conjunction with the U.S. Treasury Department, issued its latest Interim Final Rule. To streamline and simplify the loan forgiveness process, borrowers with Paycheck Protection Program (PPP) loans of $50,000 or less may now use Form 3508S to support their application for forgiveness. It should be…
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