Small Business Administration Issues Revised Loan Forgiveness Applications – "EZ" Version Available To Certain Qualifying Loan Recipients

Subsequent to the enactment of the Paycheck Protection Program Flexibility Act, the Small Business Administration (in conjunction with the United States Treasury) has revised its loan forgiveness application to reflect those amendments passed by the Congress and signed into law by the President.   In doing so, the SBA also promulgated an "EZ Loan Forgiveness Application" that is available to certain qualifying loan recipients.   This "EZ" application (and accompanying instructions) allows the following loan recipients to submit for PPP loan forgiveness in a simplified manner that requires fewer worksheets and less supporting documentation.

• Borrowers who are self-employed, independent contractors or sole proprietors who had no employees at the time of their PPP loan application.