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- To apply for forgiveness through the SBA, you should visit the SBA’s PPP Direct Forgiveness Portal. During the application process, you’ll have to fill out SBA Form 3508S. You don’t have to tell the SBA how you spent the funds, and if it’s your first loan, you don’t need to submit any further documentation.
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Effective March 13, 2024, all borrowers, regardless of loan size, can use SBA's direct forgiveness portal . Applying for forgiveness using the portal can take as little as 15 minutes. The questions you will be asked in the portal correspond to those asked on SBA Form 3508, SBA Form 3508EZ, or SBA form 3508S.
- SBA Direct Forgiveness Portal
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- SBA Form 3508S
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- First Draw PPP Loan
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- Get Help With Your PPP Loan
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- PPP Lender Information
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- PPP Lenders Participating in Direct Forgiveness
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- SBA Direct Forgiveness Portal
To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) may use the Form 3508EZ application or complete this application as directed in these instructions, and submit it to your Lender
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Oct 9, 2020 · SBA will continue to process all PPP forgiveness applications in an expeditious manner. View the simpler loan forgiveness application. View the instructions for completing the simpler loan forgiveness application.
borrowers will begin making loan payments to their PPP lender. How to Apply for Loan Forgiveness. 1. Contact your PPP Lender and complete the correct form. Your Lender can provide you with either the SBA Form 3508, SBA Form 3508EZ, SBA Form . 3508S, or a Lender equivalent.
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Content. Program updates. SBA is working to streamline the PPP forgiveness application process. Beginning in March 2024, all borrowers applying for forgiveness can use SBA's Direct Forgiveness Portal (DFP). This will ensure a more accessible process for borrowers, no matter loan size.
Jun 12, 2020 · Borrower Application Form Revised June 12, 2020 . Purpose of this form: This form is to be completed by the authorized representative of the Applicant and submitted to your SBA Participating Lender. Submission of the requested information is required to make a determination regarding eligibility for financial assistance.
Borrower Application Form Revised January . 8, 2021 . Purpose of this form: This form is to be completed by the authorized representative of the Applicant and . submitted to your SBA Participating Lender. Submission of the requested information is required to make a determination regarding eligibility for financial assistance.
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