As of December 2020, the U.S. Small Business Administration continues to process loan forgiveness applications. If you have not already applied, you are urged to do so as soon as possible.

Earlier this year, the Federal Government approved a stimulus package that included financial assistance for small businesses due to the pandemic. The Paycheck Protection Program (PPP) gave small businesses an incentive to keep their employees on the payroll.


The program closed on August 8, 2020 and all the clients that Exact Tax, Inc. assisted with completing and submitting the application were approved. Collateral or personal guarantees were not required, and the program allowed the borrower to apply for a loan forgiveness so long as the small business provides backup documentation that the monies were used to pay their employees and eligible expenses.

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