SBA updates PPP forms to implement changes
3/23/21
The SBA issued updated Paycheck Protection Program application forms that incorporate last week's interim final rule implementing American Rescue Plan Act changes.
The Rule: The IFR authorizes PPP loans for Shuttered Venue Grant applicants (though the PPP loan amount will be deducted from the grant); clarifies payroll costs not eligible for forgiveness; and clarifies eligibility for 501(c) organizations, NAICS code 72 businesses, and internet-only news businesses.
Forms: The SBA issued updated versions of the following:
- Lender loan guaranty application form
- Second-draw lender application form
- Borrower first-draw PPP loan application form
- Borrower second-draw PPP loan application form
- First-draw Schedule C borrower application using gross income
- Second-draw Schedule C borrower application using gross income
More: More PPP information and resources are available on the SBA and Treasury sites and ICBA's PPP and EIP News page.