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

Release Date: 
Friday, October 9, 2020
Release Number: 
20-81
Contact: 
Cheryl A. Croto

SBA began approving PPP forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on October 2, 2020.  SBA will continue to process all PPP forgiveness applications in an expeditious manner.

SBA and Treasury have also eased the burden on PPP lenders, allowing lenders to process forgiveness applications more swiftly.