P.P.P. FORGIVENESS APPLICATION
The P.P.P. Forgiveness Application has just been released. Find out what you need to know.
By Matthew Lyon
MAY 19, 2020
There are four parts included in the application: the forgiveness calculation form, PPP Schedule A, PPP Schedule A’s worksheet, and a demographic information form. Schedule A takes information from the worksheet and then calculates if you met your full time equivalent level in order to compute your forgiveness percentage. The forgiveness calculation form and Schedule A must be submitted to your lender. The demographic information form is optional. The demographic form was suggested to be implemented by the SBA’s Inspector General Hannibal Ware when he reported that the SBA’s PPP did not fully align with the C.A.R.E.S. Act by not collection this information in initial applications.
For more information about the Paycheck Protection Program, visit our website for official SBA documents about the program, along with other important COVID-19 related SBA changes. Our website also includes webinars that we have been a panelist on as well as updates about future webinars we will be hosting.
Diamond Financial Services