SBA and Treasury Release PPP Loan Forgiveness Application

Business Management
Published
The U.S. Small Business Administration, in consultation with the U.S Department of the Treasury, has released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the CARES Act. SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities. The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:
  • Options for borrowers to calculate payroll costs using an "alternative payroll covered period" that aligns with borrowers' regular payroll cycles;
  • Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan;
  • Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness;
  • Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30; and
  • Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined.
A press release from the Treasury Department announced that the documents released on May 15 will help small businesses seek forgiveness at the conclusion of the eight-week covered period, which begins with the disbursement of their loans. View the application and instructions here.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Safety

Oct 10, 2025

Fighting the Stigma of Mental Health in Construction

Friday, Oct. 10, is World Mental Health Day, an annual observance from the World Health Organization to raise awareness of mental health issues around the world and to mobilize efforts in support of mental health.

Sponsored Content

Oct 09, 2025

The Hidden Jobsite Multiplier: How Installer-First Design Unlocks Efficiency

Product innovation is largely driven by aesthetics and material costs, with the installer often being the last consideration. It's time for a paradigm shift. We must start evaluating products through an "installer-first" lens, prioritizing ease of installation on par with design and price.

View all

Latest Economic News

Economics

Oct 10, 2025

Vinyl Surpasses Stucco as Most Used Principal Exterior Wall Material

In 2024, vinyl siding was the most used principal exterior wall material for homes started. It holds just over a quarter share of homes, slightly surpassing stucco for the first time since 2018.

Economics

Oct 09, 2025

Remodeling Market Sentiment Improves in Third Quarter

In the third quarter of 2025, the NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 60, up one point compared to the previous quarter. With the reading of 60, the RMI remains solidly in positive territory above 50, but lower than it had been at any time from 2021 through 2024.

Economics

Oct 08, 2025

Refinancing Activity Surges in September

Refinancing activity surged in September, marking the largest monthly increase since the COVID-era of ultra-low interest rates. This increase followed mortgage rates dropping below 6.5% for the first time since October 2024 in anticipation of rate cuts that ultimately materialized. ­­