The U.S. Small Business Administration (SBA), in consultation with the U.S. Department of the Treasury, released guidance in the form of a Paycheck Protection Program (PPP) Loans Frequently Asked Questions (FAQ) page online at Home.Treasury.gov/system/ flles/136/Paycheck-Protectlon-Program-Frequently-Asked-Questions.pdf. It also released the first draft of the Loan Forgiveness Application, which lays out the calculation for forgivable amounts under the PPP, at Content.SBA. gov/sltes/default/flles/2020-05/3245-0407%20SBA%20 Form%203508%20PPP%20Forgiveness%20Application.pdf. Both documents are the governing rules for qualification and verification for funding, forgiveness and payback under the program.
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