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SBA releases guidance on PPP loan forgiveness

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The U.S. Small Business Administration on Friday released guidance on how Paycheck Protection Program borrowers can see their loans forgiven.

The documentation, which can be viewed here, includes a worksheet detailing how to calculate the amount of the loan that can be forgiven.

From the start of the process, the SBA has said 75% of PPP funds could be used for payroll expenses, with the remainder directed toward overhead costs including rent and utilities.

Read more from the Milwaukee Business Journal.

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