May 21, 2020
The U.S. Government has released an application for Small Business borrowers seeking forgiveness of loans issued to them under the Paycheck Protection Program (“PPP”). PPP has been a popular program to fund Small Businesses’ jobs retention efforts as part of the federal Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Contributing to the popularity of PPP was the prospect of loan forgiveness if employers maintained employees on the payroll.
Below is a link to the loan forgiveness application, which also provides new guidance for PPP borrowers:
The U.S. Government continues to provide additional guidance on this legislation and we are following these updates.
We remain available to assist you and your business regarding this and other aspects of your business’ recovery strategy in the wake of the Coronavirus, and if you have any questions, please feel free to email the attorney(s) handling your matter directly, or contact the Firm at firstname.lastname@example.org.