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Mar 13, 2024 · How to apply for forgiveness. Each forgiveness form has unique instructions for documentation that must be submitted with your loan forgiveness application. For detailed instructions, refer to your chosen forgiveness form for clear guidance. For loans of $150,000 and below: SBA form 3508S PPP Loan Forgiveness Application + Instructions.
- SBA Direct Forgiveness Portal
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- SBA Form 3508S
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- First Draw PPP Loan
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- SBA Direct Forgiveness Portal
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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Each PPP loan must use a separate loan forgiveness application form. You cannot use one form to apply for forgiveness of both a First Draw PPP Loan and a Second Draw PPP loan. For a Second Draw PPP Loan in excess of $150,000, you must submit a loan forgiveness application for your First Draw PPP Loan before or simultaneously with the loan ...
June 16, 2020. LOAN FORGIVENESS APPLICATION INSTRUCTIONS FOR BORROWERS. 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 (or the Lender that is servicing your loan).
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Step 4. Enter the borrower’s total FTE as of the earlier of December 31, 2020, and the date this application is submitted: . Step 5. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe Harbor 2 has been satisfied.
Protection Program. Loan Forgiveness Application Form 3508 Revised July 30, 2021. OMB Control No.: 3245-0407 Expiration Date: 01/31/2022. PPP Loan Forgiveness Calculation Form. ☐ First Draw PPP Loan ☐ Second Draw PPP Loan (check one) SBA PPP Loan Number: Lender PPP Loan Number:
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