PPP Loan Forgiveness
The forgiveness process can be started after the funds have been appropriately used. It must be at least eight weeks after the initial loan date, but no more than 24 weeks after the initial loan date.
If you received a PPP Loan of $150,000 or less, you are eligible to apply with the 3508S Application.
You may qualify for the EZ Application if you meet one of the three requirements below:
- You are self-employed and do not have any employees.
- You did not reduce your employees’ hours or did not reduce their salaries or wages by more than 25%.
- You experience reductions in business as a result of health directives related to COVID-19 AND did not reduce the salaries or wages of your employees more than 25%.
If you qualify for the EZ Application, please download these documents, fill them out and upload them using the button below.
If you do not qualify for the EZ Application, please download these documents, fill them out and upload them using the button below.
PLEASE KEEP IN MIND THE FOLLOWING INFORMATION WHEN COMPLETING THE APPLICATION
- The disbursement date on the application is the same date that appears on your original loan documents as the “loan date”.
- The covered period must begin on the date of disbursement and reflect a full 24 week period ( if you received your loan before June 5, 2020 you may opt for an 8 week covered period). This DOES NOT end on the date that you used the last of your loan funds. Please see the Covered Period Schedule to find your correct covered period date range.
- You are required to send in proof of obligation and payment for all payroll and nonpayroll costs that you claimed on the application for the covered period as well as a period before February 15, 2020. Please see the Required Document Checklist to make sure you have all the proper documentation.