Paycheck Protection Program: Guidance on Loan Forgiveness
Updated Paycheck Protection Program (PPP) loan forgiveness guidance and forms were released by the US Small Business Administration (SBA) and Treasury.
The PPP Loan Forgiveness Application Form 3508S is a one-page form for borrowers that received a PPP loan of $150,000 or less. The borrower doesn’t need to submit supporting documents, but would need to provide the following information on the form:
- The loan amount
- Disbursement date
- Employee totals
- Covered period dates
- Amount of the loan spent on payroll
- The amount of the loan for which forgiveness is being sought
Other Loan Forgiveness Applications:
PPP Calculation Guidance:
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