Simple PPP Loan Forgiveness for Loans of $50K

New Hampshire District Office - October 9,  2020

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SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less


WASHINGTONThe U.S. Small Business Administration, in consultation with the Treasury Department, today released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.

“The PPP has provided 5.2 million loans worth $525 billion to American small businesses, providing critical economic relief and supporting more than 51 million jobs,” said Secretary Steven T. Mnuchin.  “Today’s action streamlines the forgiveness process for PPP borrowers with loans of $50,000 or less and thousands of PPP lenders who worked around the clock to process loans quickly,” he continued.  “We are committed to making the PPP forgiveness process as simple as possible while also protecting against fraud and misuse of funds.  We continue to favor additional legislation to further simplify the forgiveness process.”

“Nothing will stop the Trump Administration from supporting great American businesses and our great American workers. The Paycheck Protection Program has been an overwhelming success and served as a historic lifeline to America’s hurting small businesses and tens of millions of workers. The new form introduced today demonstrates our relentless commitment to using every tool in our toolbelt to help small businesses and the banks that have participated in this program,” said Administrator Jovita Carranza. “We are continuing to ensure that small businesses are supported as they recover.”

SBA and Treasury have also eased the burden on PPP lenders, allowing lenders to process forgiveness applications more swiftly.  

SBA began approving PPP forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on October 2, 2020.  SBA will continue to process all PPP forgiveness applications in an expeditious manner.

Click here to view the simpler loan forgiveness application.

Click here to view the instructions for completing the simpler loan forgiveness application.

Click here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less.


Join us for 'Tuesday Talks' and hear about the upcoming National Veterans Small Business Week

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 October 13, 2020 at 10am

SBA Veteran Programs/Boots to Business

This week on Tuesday Talks we will get a chance to chat more with Miguel Moralez, the NH District Office Veterans Business Development Specialist.   We will take this time to chat about the upcoming National Veterans Small Business Week which has been scheduled for November 2-6, 2020.  Tune in to find out more about programs offered for Veteran’s and their families!  During the virtual event you will:

  • Hear from our very own Miguel Moralez and why he is passionate about working with Veteran’s
  • Receive information on our SBA Program Boots to Business
  • Obtain updates on the November Boots to Business program
  • Receive encouragement and knowledge specific for the Veteran small business owner

‘Tuesday Talks’ will be offered every Tuesday morning at 10:00am, with different weekly topics. Here's what to expect the next few weeks.

Have an idea or a topic you want to have discussed on a Tuesday Talks?  Share your idea at Tuesday.belanger@sba.gov, to get your idea on the calendar. 

Join Teams Meeting Here 

1 (202) 765-1264

Conference ID: 712 473 207#


What Others are Doing to Help Around the State

Live Venue Relief Program

Concord, NH - Today, Governor Chris Sununu and Commissioner Taylor Caswell, Executive Director of the Governor's Office for Emergency Relief and Recovery (GOFERR), announced the allocation of $12 million from the state's CARES Act Coronavirus Relief Funds for a new relief program to target New Hampshire live performance venues that have been hit especially hard by the COVID-19 pandemic.

The Live Venue Relief Program supports performance venues facing economic hardship due to COVID-19. The program is open to both for-profit and nonprofit facilities meeting these criteria and will provide recipients up to $1.5 million. 

The deadline to apply is next Tuesday, October 13, 2020.

For more information on the Live Venue Relief Program, 

visit the GOFERR HERE 


Manchester Small Business Resiliency Grant Program

Eligible small businesses can receive a grant up to $5,000, good towards paying off eligible business expenses incurred since March 13, 2020.Funds are available through the US Housing and Urban Development (HUD) Community Development Block Grant Program.

While funds are available through this program for all eligible small businesses, emphasis will be placed on outreach to minority-owned businesse.

For more information, email smallbusinessgrant@manchesternh.gov.

Eligible businesses can apply www.manchesternh.gov/Departments/Economic-Development.

The Greater Manchester Chamber and Deo Mwano Consultancy are partnering on the administration, marketing and outreach for this program.


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Ways to Connect with SBA New Hampshire:


Websitewww.sba.gov/nh
EmailNewHampshire_DO@sba.gov
Twitter: @SBA_NH

Phone: 603-225-1400