On May 15, 2020, the Small Business Administration (SBA) finally released the loan forgiveness application for the Paycheck Protection Program (PPP). The application is fairly complex and includes several forms and worksheets that must be completed by each borrower and submitted to their respective lending institutions.
To assist you with this process, we have assembled a set of line-by-line instructions for these forms and worksheets. Although your bank may require that these forms be completed online, having a familiarity with the actual forms will help you understand the information that will be required. It will also give you the ability to calculate how much of your loan will be forgivable.
Included in this guide are the forms and worksheets you will need to complete, a set of line-by-line instructions for these forms and worksheets as well as a copy of the full SBA Loan Forgiveness Application package for your reference.