New PPP Loan Forgiveness Application Options
Did you receive PPP funds? Early in October, the Small Business Administration (SBA) released a simple one-page forgiveness application for the PPP borrowers who received funds of $50,000 or less.
The new application will require you to confirm that the PPP funds were used for eligible costs, but when using this application you won't have to record calculations.
If you are filing without RBSK advisers, look below for which application you should use:
- Standard PPP Forgiveness Application: if you reduced your full-time employee headcount from pre-pandemic levels OR you reduced pay rates by grater than 25% you must use this application.
- PPP EZ Application: if your loan amount was larger than $50,000
- PPP One-Page Forgiveness Application: if your loan amount was less than $50,000
All borrowers are advised to maintain PPP records for at least six years and be aware that these forgiveness requests are subject to audit by the SBA.
For more information visit our COVID-19 Guidance Center.
Tips of where to get your information about the virus
Indiana State Department of Health News ISDH.in.gov
World Health Organization WHO.int
Where to find local updates about the virus
Decatur County Health Department Facebook Page
Bartholomew County Health Department Facebook Page
Ripley County Health Department Facebook Page
Franklin County Health Department Facebook Page
North Vernon Plain Dealer & Sun Homepage
We are committed to serving clients with care, and we are confident we are taking precautionary measures to promote the health and safety of our staff and clients. We know that this is a stressful time for everyone, and we hope that you, your family and our community stay safe.
Please call us at 800-676-7567 if you have any questions