As of May 26, 2020, the Small Business Administration (SBA) has approved 4,435,038 Paycheck Protection Program (PPP) Loans totaling $511+ billion. The average loan size is $115,276.
The SBA, in consultation with the Department of the Treasury, released the PPP Loan Forgiveness Application and detailed instructions for the application, which include several measures to reduce compliance burdens and simplify the process for borrowers. Click here to view the application and instructions.