SBA Form 3508 (05/20) Page 1 . L. OAN . F. ORGIVENESS . A. PPLICATION . I. NSTRUCTIONS FOR . B. ORROWERS. To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete this application as directed in these instructions, and . submit it to your Lender (or the Lender that is servicing your loan ...

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). Borrowers may also complete their application electronically through their Lender.

Applications must be submitted in English. Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.

understand that if the funds were knowingly used for unauthorized purposes, the federal government may pursue recovery of loan amounts and/or civil or criminal fraud charges.

Feb 9, 2022 · 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.

1. Gather all of your documentation related to your PPP Loan including your PPP Schedule A Worksheet or its equivalent, all schedules, payroll reports, employee information, and supporting documentation.

SBA may direct a lender to disapprove the Borrower’s loan forgiveness application if SBA determines that the Borrower was ineligible for the PPP loan. Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: . Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: .

SBA Form 3508 (06/20) Page 4 Paycheck Protection Program OMB Control Number 3245-0407 Loan Forgiveness Application Revised June 16, 2020 Expiration Date: 10/31/2020. PPP Schedule A Worksheet . Table 1: List employees who: • Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose

Jan 21, 2021 · Form 3508. The key changes to the revised Form 3508 are as follows: Page 1. The borrower’s NAICS code is now required. There is a new “check box” to indicate whether the application is for the forgiveness of a First Draw or Second Draw PPP loan. The boxes for EIDL Advance amount and EIDL Application Number have been removed.

To apply for forgiveness of your First or Second Draw Paycheck Protection Program (PPP) loan, you (the Borrower) may use the Form 3508EZ or the Form 3508S application or complete this application as directed in these instructions, and submit it to your Lender (or the Lender that is servicing your loan).