Did you get a PPP loan of $50,000 or less?  Good news.  Compliance just got a little easier.

On October 8th the Treasury Department in conjunction with the Small Business Administration released a simplified forgiveness application and instructions.  This comes on the heels of a new interim final rule providing updated guidance on forgiveness and review processes.

Note that the simplified forgiveness application may not be used if a borrower together with affiliates received loans totaling $2,000,000 or more.