The US Treasury has issued guidelines for forgiveness of Paycheck Protection Plan loans. Under the Paycheck Protection Program (PPP) created by the CARES Act, loans may be forgiven if borrowers use the proceeds to maintain their payrolls and pay other specified expenses.The business must apply for loan forgiveness with the lender that processed the loan.
Click here for the Loan Forgiveness Application from the US Treasury Department: https://home.treasury.gov/system/files/136/3245-0407-SBA-Form-3508-PPP-Forgiveness-Application.pdf
Click here for the US Chamber of Commerce Guidelines on PPP Loan Forgiveness: https://www.uschamber.com/report/guide-ppp-loan-forgiveness
SBA Guidance on PPP Loans and Forgiveness: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
