The P.P.P. Forgiveness Application has just been released. Find out what you need to know.

By Matthew Lyon

MAY 19, 2020

The Paycheck Protection Program’s forgiveness application became available over the weekend and we wanted to share it with our followers. We will be looking further into the details over the coming weeks and will share what we learn about completing these forms. We suggest you print, understand, and share this forgiveness application with anyone who has received, or will receive, PPP funds along with your account personnel.

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.

No one knows what the next few weeks or months may hold, but what I can assure you is that we will be here to continue assisting small businesses to lead the country’s growth in the coming years.


Diamond Financial Services