A Simpler Ppp Forgiveness Application For Loans Of 50 000 Or Less Paycheck protection program. qs) on ppp loan forgivenessthe small business administration (sba), in consultation with the department of the treasury, is providing this guidance to address borrower and lender questions concerning forgiveness of paycheck protection program (ppp) loans, as provided for under section 1106 of the coronavirus aid. 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.
Ppp Loan Forgiveness Application And Instructions Released By Sba For borrowers. 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. a borrower can apply for forgiveness once 1 contact your 2 compile it. 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. you cannot use one form to apply for forgiveness of both a first and second draw ppp loan. Notice: the paycheck protection program (ppp) ended on may 31, 2021. existing borrowers may be eligible for ppp loan forgiveness. a borrower may use this form only if the borrower received a ppp loan of $150,000 or less. download .pdf. file size: 373kb. effective: july 30, 2021. owned by: office of capital access. omb control number: 3245 0407. The sba offers additional loan resources, disaster relief funding and other benefits. 1. for first draw ppp loan forgiveness applications using the s form, documentation does not need to be uploaded, however, you are required to retain all records relating to your ppp loan and may be required to submit such documentation to the sba, upon request.
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