Finally! The SBA Releases One-Page PPP Loan Forgiveness Application
February 18, 2021
WASHINGTON, DC -
The Small Business Administration (SBA) released a slew of PPP guidance and updates yesterday, including the new simplified, one-page application for borrowers of loans for $150,000 or less – Form 3508S. Before the program reopened that threshold covered about 4.6 million of the program’s total 5.2 million loans.
Small loans predominate in the new round of PPP loans opened up last week, too. According to the information released yesterday, the SBA approved 60,000 paycheck protection loans submitted to nearly 3,000 lenders for over $5 billion between Monday January 11t...