Treasury releases simplified PPP form for loans of less than $50,000

Logo for the SBA's PPP Program

Last night, the U.S. Treasury released a simplified form for loans less than $50,000. If you have a small PPP loan, this should make forgiveness easier. Notably, the new form allows for borrowers with loans under $50,000 to still obtain forgiveness even if they 1) reduced the salary or hourly wage of an employee (who earned less than $100K in 2019) during the covered period or 2) reduced FTEs during the covered period.

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