It’s good you’re thinking about the forgiveness application now. Congress extended the program to 24 weeks for new borrowers and the option of 8 or 24 weeks for existing borrowers.
As for me, first and foremost I am a fractional CFO specializing in startups and small businesses. As the PPP program is designed for clients like mine, I have consulted with a number of them to help them understand the best way to take advantage of the PPP program. I have already helped a couple of them complete drafts of the forgiveness applications, which is a great tool to make sure you’re taking full advantage of the program.
If you haven’t done so already, you should look at both the EZ loan forgiveness application and the regular (updated) one. You will need to wait to submit until either the 8 or 24 week period lapses.
You can find all the relevant links here on the treasury.gov website.
We’re also waiting to hear the outcome of the Heroes Act, which as of now (June 23) is passed by the House and waiting in the Senate which is scheduled to reconvene mid-July. The Heroes Act could include additional stimulus payments as well as some (unknown) changes to the PPP loan forgiveness.