SBA Forgiveness Process for Lenders

On July 23, 2020, the Small Business Administration (SBA) released a procedural notice to all Lenders involved with the Paycheck Protection Program (PPP) detailing “the processes for submitting decisions on PPP borrower loan forgiveness applications to SBA, requesting payments of the forgiveness amount determined by the Lender, SBA loan forgiveness reviews and payment of the loan forgiveness amount determined by the SBA.”