{"id":4604,"date":"2020-06-18T15:51:05","date_gmt":"2020-06-18T19:51:05","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=4604"},"modified":"2020-07-01T09:07:19","modified_gmt":"2020-07-01T13:07:19","slug":"sba-and-u-s-treasury-department-approve-simplified-paycheck-protection-program-forgiveness-application-materials","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/anderson\/sba-and-u-s-treasury-department-approve-simplified-paycheck-protection-program-forgiveness-application-materials.html","title":{"rendered":"SBA and U.S. Treasury Department Approve Simplified Paycheck Protection Program Forgiveness Application Materials"},"content":{"rendered":"<p>After receiving numerous complaints about the complexity of the loan forgiveness application form under the Paycheck Protection Program, the SBA and U.S. Department of Treasury on June 16, 2020 approved simplified versions of the forgiveness application.\u00a0 \u00a0The original loan forgiveness application was 11 pages long, but now many borrowers under the Paycheck Protection Program (\u201cPPP\u201d) will be eligible to apply for forgiveness under a newly streamlined EZ version of the application which is only 3 pages long.\u00a0 Borrowers that cannot qualify to use the EZ version will be able to instead now use a 5-page SBA Form 3508.<\/p>\n<p>To qualify for use of the EZ form, a borrower must be able to fit within at least <u>one<\/u> of the following three categories:<\/p>\n<p>1. The borrower is a self-employed individual, independent contractor, or sole proprietor who had no employees at the time of the PPP application and did not include any employee salaries in the computation of average monthly salaries in the application.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/anderson\/sba-and-u-s-treasury-department-approve-simplified-paycheck-protection-program-forgiveness-application-materials.html\"  title=\"Continue Reading SBA and U.S. Treasury Department Approve Simplified Paycheck Protection Program Forgiveness Application Materials\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>After receiving numerous complaints about the complexity of the loan forgiveness application form under the Paycheck Protection Program, the SBA and U.S. Department of Treasury on June 16, 2020 approved simplified versions of the forgiveness application.\u00a0 \u00a0The original loan forgiveness application was 11 pages long, but now many borrowers under the Paycheck Protection Program (\u201cPPP\u201d) [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[245,65,64],"tags":[],"coauthors":[207],"class_list":["post-4604","post","type-post","status-publish","format-standard","hentry","category-corporate-ma-insights","category-insights","category-anderson"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBA and U.S. Treasury Department Approve Simplified Paycheck Protection Program Forgiveness Application Materials &#8212; June 18, 2020 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events<\/title>\n<meta name=\"description\" content=\"After receiving numerous complaints about the complexity of the loan forgiveness application form under the Paycheck Protection Program, the SBA and U.S.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/anderson\/sba-and-u-s-treasury-department-approve-simplified-paycheck-protection-program-forgiveness-application-materials.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBA and U.S. Treasury Department Approve Simplified Paycheck Protection Program Forgiveness Application Materials &#8212; June 18, 2020 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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Firm News &amp; Events","og_description":"After receiving numerous complaints about the complexity of the loan forgiveness application form under the Paycheck Protection Program, the SBA and U.S.","og_url":"https:\/\/www.lindabury.com\/firm\/anderson\/sba-and-u-s-treasury-department-approve-simplified-paycheck-protection-program-forgiveness-application-materials.html","og_site_name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","article_published_time":"2020-06-18T19:51:05+00:00","article_modified_time":"2020-07-01T13:07:19+00:00","author":"Robert W. Anderson","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Robert W. 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