An Update on PPP Loan Forgiveness

The Small Business Administration (SBA) has finally released the form used for Paycheck Protection Program (PPP) Loan Forgiveness.

The PPP is an SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Introduced to provide a direct incentive for small businesses to keep their staff on payroll, the SBA offers loan forgiveness “If the money is used for payroll, rent, mortgage interest, or utilities”.

Insource is pleased to announce that the PPP Loan Forgiveness Application is now available for borrowers to complete and submit to their lenders. You can download the form by clicking here.

The forms are to be completed and submitted electronically, so contact your lender directly for information on where to submit your completed form.

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While we are unable to meet face to face with our clients for the foreseeable future, it’s important to us that our clients know we are always on hand to answer questions, provide guidance and insight to help them through the uncertainty we’re all facing.

If you have any questions about dealing with COVID-19 in the workplace, email us at insource@insourceservices.com or call us on (781) 235-1490.