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New PPP Loan Application Forms Released & California Small Business Relief Grant

The US Small Business Administration (SBA) and the Treasury recently released the new Paycheck Protection Program (PPP) loan application forms based on the COVID-19 Aid Bill passed on December 27, 2020. The forms are Form 2483 – Paycheck Protection Program Borrower Application Form and Form 2483-SD – PPP Second Draw Borrower Application Form. Form 2483 is an updated version from the original PPP program. Form 2483-SD is a new form for qualified PPP borrowers to apply for a second loan.

Additional guidance was also issued to discuss the changes in the new bill. Please see the following link for updated guidance from the SBA and the Treasury: https://home.treasury.gov/system/files/136/PPP-IFR-Second-Draw-Loans.pdf.

To view the the 82-page interim final rule (IFR), click HERE.

For small businesses in California, a California COVID-19 relief grant available. Please see more detailed information on the California website: https://careliefgrant.com/.

If you have a Paycheck Protection Program (PPP) loan and need to calculate your loan forgiveness or compile a loan forgiveness package for your lender, Windes can HELP.


VIEW WEBINAR! COVID-19 Aid Bill: What does it mean for you?


For questions or more information about this article, please contact our tax professionals at taxalerts@windes.com or toll free at 844.4WINDES (844.494.6337).

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