Updated! Enough is Enough SBA : PPP Forgiveness

Updated: Jul 15, 2020

White man very upset while on a phone call.
Come on SBA! Get it together!

*Updated June 18, 2020

After almost a month, the SBA in conjunction with Treasury released Wednesday a revised loan forgiveness application for the Paycheck Protection Program (PPP). The SBA also unveiled a new EZ application for forgiveness of PPP loans.

- Revised PPP Loan Forgiveness Application and instructions.

- EZ PPP Loan Forgiveness Application and instructions.


Ok SBA, enough is enough. Are you kidding us? An 11-page application for PPP forgiveness? This is longer than the average tax return for a small business. As an accountant, I offer a simple solution instead of this exercise in futility. 1. For all borrowers under $2 million - keep the money. Admit that giving companies 10 weeks’ worth of funding to spend in eight weeks was flawed to begin with and trust that companies are using the money for survival. Since you are now designing more funding, don’t forget that 10 weeks was not enough to achieve the desired results. 2. Turn the entire amount into a grant immediately. The costs of reviewing and approving loans plus the time and effort from "borrowers" to apply for forgiveness have to far exceed the money that needs to be returned over a two-year period. The productivity of the businesses using the extra funds to keep staff and pay rent will ultimately be more the amounts forgiven. I understand simplicity is not the strength of government, but for once take the advice of a simple accountant who could have helped you design a simple relief bill to begin with.

  • View the original posting on LinkedIn and join the conversation. Do you agree? Disagree? Did you receive PPP funding and are not unsure about spending? Did you apply for PPP funding and get denied? Let us know by commenting on the original posting.


Larry Felts has over 40 years of professional service and has learned that his greatest satisfaction is derived from being part of the successes of family, friends and colleagues and clients. This has fostered a focus on building relationships, not just a book of business.

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