PPP borrowers of $50k or less can receive complete loan forgiveness
PPP borrowers of $50k or less can receive complete loan forgiveness
Reading Time: < 1 minute(Last Updated On: October 29, 2020)
According to new PPP guidance released by the Treasury Department last Thursday, small businesses that acquired loans of $50,000 or less from the Paycheck Protection Program may now receive complete loan forgiveness through self-certification.
Some documentation will still be required to process PPP loan forgiveness applications, but the form is now much simpler. Plus, businesses are no longer required to prove that they maintained pre-COVID levels of employment and salaries.
Read more here.
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