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SBA Clarifies Expiration Date on PPP Forgiveness F

Archived Industry News:SBA Clarifies Expiration Date on PPP Forgiveness Forms

Last Updated: 10/15/2020 4:15 PM

SBA Clarifies Expiration Date on PPP Forgiveness Forms

In a new addition to its FAQs on Paycheck Protection Program loan forgiveness, the U.S. Small Business Administration this week clarified that borrowers may submit a loan forgiveness application at any time before the loan matures. The SBA issued the FAQ in response to questions about the expiration date of Oct. 31, 2020, which appeared on its forgiveness application forms (3508, 3508EZ and 3508S). The date reflects Paperwork Reduction Act requirements and will be extended when the forms are approved with a new expiration date, the SBA said. Read the FAQs.

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