The Paycheck Protection Program established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up to 24 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
One June 17, the SBA released additional guidance relating to the Paycheck Protection Program Flexibility Act (PPPFA) which included updates to the PPP loan forgiveness application. There are currently two separate application forms within the PPPFA. For your convenience, both of these application forms may be found below.
It is incumbent on PPP borrowers to review these forms and decide which application is applicable for their unique circumstances.