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PPP Loan Forgiveness Application | Levine & Associates

https://levineandassoc.com/ - Understanding this new CARES Act small business loan program, including what's available, how the process works, and what you need to do to apply.

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PPP Loan Forgiveness Application | Levine & Associates

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  1. PPP LOAN FORGIVENESS APPLICATION

  2. Applying for Loan Forgiveness

  3. To apply for forgiveness of your Paycheck Protection Program (PPP) loan, Borrowers should complete this application and submit it to your Lender (or the Lender that is servicing your loan). Borrowers may also complete this application electronically through their Lender. According to the SBA, “The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers…”

  4. Those include the below: Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles

  5. Those include the below: Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that were declined. Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by August 8, 2020.

  6. ! Contact Us Want to learn more about our services? Use the contact form below to get in touch!

  7. HTTPS://LEVINEANDASSOC.COM/ (516) 666-8880 JOSH@LEVINEANDASSOC.COM 135 ROCKAWAY TURNPIKE, SUITE 111LAWRENCE, NY 11559

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