The U.S. Small Business Administration, in collaboration with the Department of the Treasury, has released a revised, user-friendly version of the Paycheck Protection Program (PPP) Loan Forgiveness Applications. This is in accordance with the PPP Flexibility Act of 2020, which was signed into law by President Trump on June 5, 2020. The application includes a new EZ version for self-employed individuals without employees, businesses that didn’t reduce their employees’ salaries or wages by more than 25%, and businesses that experienced reductions in activity due to COVID-19 health directives. The EZ application streamlines the process by requiring fewer calculations and less documentation from eligible borrowers. Both versions of the PPP Loan Forgiveness Applications offer borrowers the option of an original 8-week covered period or an extended 24-week period.

Release Information

Release Date: Wednesday, June 17, 2020

Release Number: 20-48

Contact: Press_Office@sba.gov, (202) 205-7036

PPP Loan Forgiveness Updates

WASHINGTON—Today, the U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020.  In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:

  • Are self-employed and have no employees; OR
  • Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
  • Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%.

The EZ application requires fewer calculations and less documentation for eligible borrowers.  Details regarding the applicability of these provisions are available in the instructions to the new EZ application form. 

Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period.  These changes will result in a more efficient process and make it easier for businesses to realize full forgiveness of their PPP loan.

Application Links

Click here to view the EZ Forgiveness Application.

Click here to view the Full Forgiveness Application.

About the U.S. Small Business Administration

About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.­

Question & Answer

What is the Paycheck Protection Program (PPP) Loan Forgiveness Application?

The Paycheck Protection Program (PPP) Loan Forgiveness Application is a form released by the U.S. Small Business Administration and the Department of the Treasury to help borrowers seek forgiveness for their PPP loans.

What are the key changes in the revised PPP Loan Forgiveness Applications?

The revised PPP Loan Forgiveness Applications include a new EZ version for self-employed individuals without employees, businesses that didn’t reduce their employees’ salaries or wages by more than 25%, and businesses that experienced reductions in activity due to COVID-19 health directives.

What is the difference between the EZ Forgiveness Application and the Full Forgiveness Application?

The EZ Forgiveness Application requires fewer calculations and less documentation for eligible borrowers, while the Full Forgiveness Application is more comprehensive and may require additional information.