The CAA: Simplified PPP Loan Forgiveness


If you’re among the 87% of businesses that received a Paycheck Protection Program (PPP) loan of $150,000 or less, the Consolidated Appropriations Act of 2021 (CAA) provides some good news to ease any forgiveness-related worries.

What’s New with PPP Loan Forgiveness

The CAA replaces the complex loan forgiveness requirements with a drastically simplified forgiveness application. Borrowers who received a loan of $150,000 or less and have not yet applied for forgiveness are eligible for this simplified application process. 

The new application requires eligible borrowers to sign and submit a one-page certification that includes the following information: 

  • The number of employees they were able to retain because of PPP loan funds
  • An estimate of the loan amount used for payroll costs
  • The total loan amount
  • Proof that you complied with the PPP requirements
Click this link to learn more about what employers need to know about the Consolidated Appropriations Act of 2021.

The Small Business Association (SBA) may audit these loans to check for fraud. As a result, eligible borrowers must retain relevant employment records for four years and other relevant records for three years. 

What Do I Need to Do?

The SBA just released the simplified forgiveness application. Please click here to view the application and everything you will need to complete it. Then, start gathering the information to submit your forgiveness application as soon as possible.

Contact your SBA 7(a) lender, bank, or credit union for any additional requirements.

How Sentric Can Help

The simplified forgiveness process no longer requires you to submit detailed payroll information. However, Sentric provides our clients with any reports or data they may need to complete the application. For more information about how Sentric can help, please contact one of our product experts.


For an overview of the CAA and its main provisions, please check out The Consolidated Appropriations Act of 2021 (CAA): What Employers Need to Know.


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