SBA Clarifies Expiration Date on PPP Forgiveness Forms
October 14, 2020
In a new addition to its Paycheck Protection Program loan forgiveness FAQs, the Small Business Administration yesterday clarified that borrowers may submit a loan forgiveness application at any time before the loan matures. 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, SBA said. Read the FAQs.