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Apr 15, 2024 · SBA Form 2483: PPP First Draw Borrower Application Form; SBA Form 2483-C: First Draw Borrower Application Form for Schedule C Filers Using Gross Income; SBA Form 2483-SD: PPP Second Draw Borrower Application Form; SBA Form 2483-SD-C: Second Draw Borrower Application Form for Schedule C Filers Using Gross Income; Disclosures
3 days ago · The Small Business Administration (SBA) Wednesday announced it was making changes to its Paycheck Protection Program (PPP) loan forgiveness application process. 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.”.
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3 days ago · Under the December law, small businesses that employ 300 or fewer people and that experienced a 25 percent or greater gross revenue loss between comparable periods in 2019 and 2020 due to COVID-19 are eligible to apply for a second forgivable PPP loan.
Apr 18, 2024 · However, advocacy groups, community leaders, and business owners say the process for seeking forgiveness is burdensome for businesses. Indeed, the loan forgiveness application, SBA Form 3508S (07/21), is seven pages and requires considerable documentation regarding how PPP funds were used.
6 days ago · Many businesses that received a first or second draw Paycheck Protection Program (PPP) loan are now looking to apply for forgiveness. Review these steps to be prepared for the loan forgiveness application. Consider using the AICPA’s loan forgiveness calculators to assist with these calculations.
Apr 19, 2024 · To amend the Small Business Act and the CARES Act to extend the covered period for the paycheck protection program, and for other purposes. Sponsor and status. Carolyn Bourdeaux. Sponsor. Representative for Georgia's 7th congressional district. Democrat. Read Text » Last Updated: Mar 27, 2021. Length: 1 page. Introduced. Mar 11, 2021.
Apr 11, 2024 · The 11-page form that must be completed to secure forgiveness is especially burdensome, time-consuming, and costly for very small and underserved businesses, including microbusinesses, sole proprietorships, rural, and minority-owned small businesses.
