The Small Business Administration (SBA) and Department of Treasury released the Paycheck Protection Program (PPP) Loan Forgiveness Application with detailed instructions on Friday, May 15, 2020.

hands typing on a laptop; image used for a COVID-19 update about the Paycheck Protection Program Loan Forgiveness Application

The SBA form has instructions that include:

  • The option for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles
  • Flexibility