Beware of typos in PPP loan forgiveness applications

2021-06-14

A small-business owner says she was left with a debt of around $12,000 after mistakenly applying for forgiveness for $1,300 for her Paycheck Protection Program loan instead of the full $13,000 that she intended to request. The case serves as a cautionary tale and a reminder to double-check applications. Arlene Embrey, an attorney with the SBA, said that "to date, there has been no guidance issued on how to correct forgiveness submission errors and there is no timeframe for the issuance of such guidance."

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