National Newspaper Association Foundation

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and enhancing the capabilities of community newspapers

Issue brief: PPP loan forgiveness

Tonda Rush

May 16, 2020

The Department of Treasury and Small Business Administration yesterday released the form that borrowers must complete for loan forgiveness under the Paycheck Protection Program.

More explanation for this process is expected. The form, however, answers some of the questions that publishers have had, such as the scope of utilities payments that will be allowable.

The form is here:

https://home.treasury.gov/system/files/136/3245-0407-SBA-Form-3508-PPP-Forgiveness-Application.pdf

Comments:

PPP loan guidance slow to come

Until late April, it was unclear what would happen if the staffing complement could not be restored within the covered period. One publisher described administering the program as “trying to land on a runway in the dark without lights.”