Sec. 2. Simplified application
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Section 1106 of the CARES Act ( 15 U.S.C. 9005 ) is amended— in subsection (e), in the matter preceding paragraph (1), by striking An eligible and inserting Except as provided in subsection (m), an eligible ; in subsection (f), by inserting or the information required under subsection (m), as applicable after subsection
(e); and by adding at the end the following: Notwithstanding subsection (e), with respect to a covered loan made to an eligible recipient that is not more than $100,000, the covered loan amount shall be forgiven under this section if the eligible recipient— signs and submits to the lender an attestation that the eligible recipient made a good faith effort to comply with the requirements under section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ); and for the 3-year period following submission of the attestation under subparagraph (A), retains records relevant to the attestation that prove compliance with those requirements. An eligible recipient of a covered loan described in paragraph
(1)may complete and submit any form related to borrower demographic information. The Administrator may— review and audit covered loans described in paragraph (1); and in the case of fraud, ineligibility, or other material noncompliance with applicable loan or loan forgiveness requirements, modify— the amount of a covered loan described in paragraph (1); or the loan forgiveness amount with respect to a covered loan described in paragraph (1). .
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