The SBA has decided that all PPP loans $50,000.00 or less will be able to apply for forgiveness using a simplified application (3508S). This action will help ease some of the burden on the PPP lenders allowing, lenders to process forgiveness applications
more swiftly, as well as, take some of the stress off of small businesses who borrowed the money. The forgiveness is set to begin early October, however, check with your lender as some institutions are not ready to start accepting forgiveness documents.
