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May 8, 2024 · According to the application instructions for Form 3508EZ, borrowers are eligible to use the simplified two-page loan forgiveness application if they fall into one of the following three categories: The borrower is a self-employed individual, independent contractor, or sole proprietor with no employees at the time of the PPP loan application.
1 day ago · For loans over $200,000, borrowers should contact the COVID EIDL Servicing Center directly at covideidlservicing@sba.gov to discuss hardship assistance. SBA is here to help. PPP: If borrowers need additional assistance with their PPP direct forgiveness application, they can contact SBA at 877-552-2692 (Monday-Friday, 8 a.m.-8 p.m. EDT).
May 13, 2024 · Business owners seeking support for EIDL can contact the SBA by calling the COVID-19 EIDL Customer Service at 833-853-5638 or by emailing COVIDEIDLServicing@sba.gov. For non-COVID EIDL and physical loss loans, assistance is provided by emailing disastercustomerservice@sba.gov or by calling 800-659-2955.
May 1, 2024 · Sign into the bank PPP portal and complete their online form or import your signed SBA forgiveness application. Upload all documentations required by your lender. For PPP loans over $150,000, the borrower must submit the forgiveness application for a Second Draw PPP Loan after or simultaneously with the forgiveness application of the First Draw ...
May 12, 2024 · Form instructions state these incurred expenses must be paid by the next payroll or billing cycle to be included. Step-by-step instructions on how to perform the calculations required by the CARES Act to conform eligibility for loan forgiveness.
May 7, 2024 · In this interim final rule, SBA implemented a direct borrower forgiveness process to provide PPP lenders with the technology platform to allow their borrowers to apply for loan forgiveness for loans of $150,000 or less directly to the SBA through the new portal that launched August 4, 2021.
May 3, 2024 · The changes “allow all PPP borrowers to apply for loan forgiveness through the SBA PPP Direct Forgiveness Portal, regardless of their loan size or Lender.”. It also requires all lenders to process forgiveness applications though the SBA’s PPP forgiveness portal regardless of prior internal approval processes.
