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Mar 13, 2024 · Borrowers may be eligible for Paycheck Protection Program (PPP) loan forgiveness. Content. Where to apply for loan forgiveness. 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.
Answer: Yes. All PPP lenders may accept scanned copies of signed loan forgiveness applications and documents containing the information and certifications required by SBA Form 3508, 3508EZ, or lender equivalent.
Paycheck Protection Program. An SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.
Paycheck Protection Program (PPP) borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either . the 8- or 24-week period after disbursement.
If a business received an Economic Injury Disaster Loan advance in addition to a Paycheck Protection Program (PPP) loan, the amount of the Economic Injury Disaster Loan advance will be deducted from the PPP loan forgiveness amount by SBA.
You can apply for PPP loan forgiveness up until the date your loan matures: Two years for loans originated before June 5, 2020, and five years for loans issued after that date. But it's...
May 24, 2021 · If you are not eligible to use this form, you must apply for forgiveness of your PPP loan using SBA Form 3508 or 3508EZ (or lender’s equivalent form). Each PPP loan must use a separate loan forgiveness application form.
