The Small Business Administration (SBA) announced that it began approving Paycheck Protection Program forgiveness applications and sending payments to lenders last Friday. Late last month, the SBA said it had received about 96,000 forgiveness requests-fewer than two percent of the total loans made under the program-but has not yet said how many of those applications have been processed to date. The SBA, in conjunction with the Treasury Department, also released a simpler loan forgiveness form and instructions for PPP loans of $50,000 or less. According to a release from the Treasury Department, the SBA began approving forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on October 2, 2020. The SBA also released the text of an interim final rule which will implement the changes to PPP loans under $50,000. You can read that IFR in its entirety here. Check with your lender to see if you are now able to apply for forgiveness.