SBA Releases EZ Forgiveness Application for PPP Loans
The EZ Forgiveness Application 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 as a result may have laid off or furloughed employees but did not otherwise reduce the salaries or wages of their employees by more than 25%.
Borrowers intending to utilize the EZ Forgiveness Application should be prepared to submit documentation evidencing their eligibility (as outlined in the EZ Forgiveness Application Instructions).