Many businesses have taken advantage of Paycheck Protection Program (PPP) loans and have already received their loan proceeds. For these loan recipients, the focus now turns to minimizing the amount that has to be repaid.

On June 5, the Paycheck Protection Program Flexibility Act was signed into law. This law extended the period during which the loan proceeds could be spent, and reduced the portion of the loan that had to go toward payroll costs. Additional SBA and Treasury guidance has since been issued, and on June 17, the updated Form 3508 Loan Forgiveness Application and a new Form 3508EZ simplified application were made available.

Join us for a discussion of what you should be considering next and how to maximize your PPP loan forgiveness.