SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less

Orrick - Finance 20/20
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Orrick - Financial Industry Review

On October 8, the Small Business Administration (SBA), in consultation with the Treasury Department, released an Interim Final Rule providing for a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. The new rule is intended to ease burdens on small borrowers and PPP lenders in submitting and processing loan forgiveness applications. Treasury Press Release. Interim Final Rule.

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