COVID-19 Resources: Business or Municipal

News

New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program Announced

access_time Posted on: June 18th, 2020

The EZ application requires less documentation and fewer calculations.

The U.S. Small Business Administration (SBA) and the Department of the Treasury posted a revised Paycheck Protection Program (PPP) loan forgiveness application that is more borrower-friendly.  The SBA, in addition to revising the full forgiveness application, has also published a new EZ version of the forgiveness application.

The EZ version applies to borrowers that: 

  • Are self-employed with no employees; OR
  • Did not reduce the wages or salaries of their employees by more than 25%, and did not reduce the hours of their employees; OR
  • Experienced reductions in business activity due to COVID-19 health directives and did not reduce the wages or salaries of their employees by more than 25%. 

The EZ application requires less documentation and fewer calculations for eligible borrowers.  More information regarding these provisions are detailed in the instructions of the EZ application form, which can be accessed using the link below.

Both applications allow borrowers to use the original 8-week covered period (for loans made before June 5, 2020) or an extended 24-week covered period.  The applications are more efficient and will make it easier for businesses with PPP loans to realize full forgiveness.  

To view the EZ Forgiveness Application, click below.

To view the Full Forgiveness Application, click below. 

About the U.S. Small Business Administration

The U.S. Small Business Administration is a resource for small businesses backed by the federal government. The SBA empowers small business owners and entrepreneurs by providing the support and resources they need to start, grow, maintain, or expand their businesses, or recover from a disaster. The SBA delivers services through a network of field offices and partnerships. To learn more about the SBA, visit www.sba.gov.

For information about current legislation relevant to your business, please visit the CGA COVID-19 Business Resource Page on our website.

For assistance with your PPP Loan or Forgiveness Application, please contact a CGA Business Law Attorney.


CGA’s latest blog posts.

Creating Trusts for Beneficiaries with Special Needs

Complimentary Estate Planning Webinar Trusts for Beneficiaries with Special Needs Thursday, September 24th 12 – 1:00 PM Join CGA and the YCEA for a Virtual Leadership Luncheon on Thursday, September 24th at 12 p.m for information on creating trusts for beneficiaries with special needs.CGA Law Firm’s experienced estate law attorney, Tim Bupp, will provide an overview…

Continue Reading Creating Trusts for Beneficiaries with Special Needs

Leadership York Named Attorney Frank Countess “Outstanding Alumnus of the Year 2020.”

Servant Leader Each year, Leadership York recognizes one outstanding alumnus for their contributions to the greater good in our community. This year’s Outstanding Alumnus of the Year is Frank H. Countess. The Outstanding Alumnus of the Year selection committee is comprised of past recipients of Leadership York’s Alumnus of the Year award and Leadership York…

Continue Reading Leadership York Named Attorney Frank Countess “Outstanding Alumnus of the Year 2020.”

Leave a Comment

Your email address will not be published. Required fields are marked *