For small businesses that received Paycheck Protection Program loans from the U.S. Small Business Administration, news is in about how to apply for loan forgiveness. On June 16, the SBA and U.S. Department of the Treasury introduced new PPP EZ Forgiveness and Revised Full Forgiveness applications.

Both applications give borrowers the option of using the original eight-week covered period (if their loan was made before June 5) or an extended, 24-week covered period.