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Rep. Loudermilk’s Business Brief: SBA Issues PPP Loan Forgiveness Guidance/Application
Posted by on May 21, 2020 | comments
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Dear Small Business Owners,

The Small Business Administration (SBA) recently released the Paycheck Protection Program (PPP) loan forgiveness guidance and application. If you received a PPP loan, you must apply for forgiveness by submitting the application below; otherwise, you will have to pay back the loan.
Loan Forgiveness Application & Instructions

 Loan Forgiveness Application & Instructions

While this program is far from perfect, numbers do matter; and, this program has undoubtedly helped save millions of businesses and jobs around the country. The state of Georgia alone has had more than 126 thousand PPP forgivable loans approved, totaling more than $14 billion. Below is a graphic that summarizes PPP’s impact on the entire country to date.


If you are a small business owner in need of financial assistance, you can still apply for a PPP loan. Below are some helpful resources to help you apply:

Find Eligible Lenders Tool

SBA Lender Application Form

SBA Borrower Application Form

PPP was created under the CARES Act economic stimulus package, passed by Congress in March; and, replenished with the supplemental bill passed by Congress and signed by the President. This program is designed to provide cash-flow to small businesses impacted by the COVID-19 health crisis.

I will continue to update businesses in Georgia’s 11th Congressional District on important federal response efforts due to COVID-19 as they become available. Please do not hesitate to contact my office if you have any questions or concerns, through my website at www.loudermilk.house.gov.

Additional Resources: Helpful Reads

SBA Press Release: Paycheck Protection Program Loan Forgiveness Application

Forbes: SBA Issues PPP Loan Forgiveness Guidance, A Few New Rules: What You Need To Know Now

Sincerely,

Barry Loudermilk
Member of Congress
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