265 0 obj <> endobj See below to determine which application you need to use. How do I calculate average FTE over a period of time? 0 SBA PPP Loan Forgiveness Application FORM 3508S SBA PPP Loan Forgiveness Instructions FORM 3508S Please visit the SBA site for additional information regarding PPP forgiveness. While it still requires small businesses to provide documentation and complete a series of calculations, it is considerably less demanding. This new three-page form reduces the documentation and calculations required to apply for PPP loan forgiveness. The Safe Harbor calculation provides a secondary path to increasing your PPP Loan forgiveness potential. The Small Business Administration (“SBA”) and the Department of the Treasury (Treasury) also released a new PPP Loan Forgiveness Application entitled Form 3508EZ. Form 3508EZ. The Brown Smith Wallace CARES Act Loan Consulting team has customized services to fit your needs. Borrowers have 10 months after the end of the covered period to submit for forgiveness. If you don’t qualify for the 3508S or the 3508EZ, this is your form. Calculations are complex and supporting documentation needs to be thorough and succinctly compiled. Because Mary received both the PPP and the EIDL grant, she will enter the amount of $1,000 in the top section of Form 3508EZ, and her PPP loan-forgiveness … Payroll documentation. Let’s go over the new PPP loan forgiveness forms first. h�bbd```b``���A$�9�� Q: The PPP loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of 10/31/2020 in the upper-right corner. Struggling with your PPP loan forgiveness application? In addition, the SBA has also published an EZ version of the loan forgiveness application. Form 3508 . "When you submit your application for forgiveness, that will go directly through the lender that you originally received the PPP loan through and then they will work with the SBA on the forgiveness process." ��"�D�"��"� r�5 �x� �t���D2�H�c`k0 The newly issued application forms were needed to address the changes brought upon by the PPP Flexibility Act (PPPFA) of 2020. Form 3508EZ will likely be the application of choice for borrowers who efficiently deployed PPP loan proceeds, without a significant reduction in employee headcount or pay rates during their applicable covered period of 8 or 24 weeks. Once the application is available, you can access it through Wells Fargo … … In this guide, we explain each section and walk you through exactly how … The SBA has THREE applications for PPP forgiveness: the 3508S, the 3508EZ or the 3508. The three versions of the form include a regular Form 3508, Form 3508EZ, and 3508S. Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of “10/31/2020” in the upper-right corner. PPP Loan Forgiveness Application Form 3508 SBA 3508 PPP Loan Forgiveness Application PPP Loan Forgiveness Application Form 3508 instructions. But you need to meet certain criteria to be eligible for the EZ form. Everyone who wants their PPP loan forgiven (meaning you don’t have to pay it back) in full or in part, must complete and submit an application for loan forgiveness. If you are looking for more information on the terms of the PPP loan … Loan Forgiveness Application Revised June 16, 2020 . This “EZ Form” is designed to reduce the required calculations for those that qualify. 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 … To qualify, borrowers must: be self-employed AND have no other employees; OR Wait! Not all businesses can use the 3508EZ form. You can use the form if. For our Q&A resource, click here. endstream endobj startxref It has a lot of variables with a lot of employee data from various time periods… to help you out, GrowthLab has built numerous tools including a PPP Loan Forgiveness Calculator for both PPP Loan Forgiveness Applications — the EZ Form (Form 3508EZ) Calculator and the Regular Form (Form 3508) Calculator, as well as a guide for completion. 2. Download the 3508EZ form here. Form 3508 (which we often call the ‘full’ or ‘extended’ form) — This is a more extensive application form to be used by borrowers who do not qualify to use either of the forgiveness application forms below — for example, because the borrower has a PPP loan greater than $50,000 and has reduced staff during the relevant reference period. %PDF-1.6 %���� The PPP loan forgiveness process is likely to be time consuming and complicated, more so than the PPP application process itself. This form requests information about each of the Borrower’s Principals. 3508EZ Application. One of the most pressing concerns among PPP loan recipients is whether they can use the more streamlined Form 3508EZ PPP Forgiveness Application … Click here for the full PPP loan forgiveness application; Click here for the new Form 3508EZ application; Click here for the Spanish version of the new Form 3508EZ; Here’s how borrowers decide which forgiveness application to use. Expiration Date: 10/31/2020. Instructions for PPP Loan Forgiveness Calculation Form 3508EZ . Is October 31, 2020 the deadline for borrowers to apply for forgiveness? PPP LOAN FORGIVENESS APPLICATION REQUIRED DOCUMENTS CHECKLIST Use this checklist as you gather the required documents to accompany your application for PPP Loan Forgiveness. �:n'8�������D0�wt40� �N �f`���ŀX,� ��"���I��#���,�,�Y~���l��Ϣôo��M�K"�0�dx����YD320pzi^f/��6�|��`�E���D-c+@� �,� 7�@��(�������뗃����U� �L�S�j�:ʴe~�9 Explore Billionaires We can help! 7�,f`Y;�/��&��$#�� ``n� ���h$�#E��z� !vT� Member FDIC LOAN FORGIVENESS APPLICATION INSTRUCTIONS FOR BORROWERS . Form 3508 (which we often call the ‘full’ or ‘extended’ form) — This is a more extensive application form to be used by borrowers who do not qualify to use either of the forgiveness application forms below — for example, because the borrower has a PPP loan greater than $50,000 and has reduced staff during the relevant reference period. "It is important to remember that the PPP loans are going directly through lenders, not directly through the SBA," Clendenning said. If you did reduce employee headcount despite not being impacted or if you did reduce salaries by more than 25% use the full forgiveness application. Borrowers should choose which form to fill out based on certain criteria below. Application Form automatically qualify to use the Loan Forgiveness Application Form 3508EZ or lender equivalent and should complete that application. On June 16, 2020, the SBA issued a simplified PPP Loan Forgiveness Application called the 3508EZ Form. SBA PPP Loan Forgiveness Application FORM 3508S SBA PPP Loan Forgiveness Instructions FORM 3508S Please visit the SBA site for additional information regarding PPP forgiveness. Because Mary received both the PPP and the EIDL grant, she will enter the amount of $1,000 in the top section of Form 3508EZ, and her PPP loan-forgiveness amount will be reduced by $1,000 to $9,417. Effective October 8, 2020, Paycheck Protection Program (PPP) borrowers receiving forgivable loans of $50,000 or less can use a streamlined forgiveness application. 801 0 obj <>stream These changes could have serious implications on your 2020 taxes and the qualifications of your loan forgiveness. endstream endobj 266 0 obj <. h�bbd```b``��;A$�rɚf{�I0�� ���C��#0i&}A$[��"�D@$K#�|a9�H2�d�ݫ@$�O0 Form 3508EZ will likely be the application of choice for borrowers who efficiently deployed PPP loan proceeds, without a significant reduction in employee headcount or pay rates during their applicable covered period of 8 or 24 weeks. Qualify to use the 3508EZ form? Although both versions of the PPP loan forgiveness application are relatively straightforward, they both require borrowers to compile documentation about how they used the funds. %PDF-1.6 %���� OMB Control Number 3245- 0407 . There’s no deadline for the forgiveness application itself (beyond applying before the loan matures). h�b```f``����� ��A��X؁����- ��=�Kr($>���dRِ��!�S��w��k``���``�@�DAu;�e>����H0� c�������v1��$3�3�cNb����^00E�g����*�p��C:CC�8΀�9l0���a��7�`h`8� ���`�� �����;����&�\�h�����3�f"+ ���ܬ�3݁� � Paycheck Protection Program (PPP) EZ Loan Forgiveness Application Form Is October 31, 2020 the deadline for borrowers to apply for forgiveness? 289 0 obj <>/Filter/FlateDecode/ID[<75F49D6B8B35A142ADA3DAE9B43A8094><518F35142FE638449652880C063CC0AD>]/Index[265 42]/Info 264 0 R/Length 114/Prev 214678/Root 266 0 R/Size 307/Type/XRef/W[1 3 1]>>stream Based on the timing of the first PPP loans, no PPP borrower has an eminent forgiveness application deadline in 2020. The PPP loan forgiveness process is likely to be time consuming and complicated, more so than the PPP application process itself. … While it still requires small businesses to provide documentation and complete a series of calculations, it is considerably less demanding. Answer: Yes. 3245-0407 Expiration date: 1 2 / 31 /2020 Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone ( ) - Primary Contact E-mail Address SBA PPP Loan Number: _____ Lender PPP Loan Number: _____ PPP Loan Amount: Paycheck Protection Program PPP Loan Forgiveness Application Form 3508EZ SBA Form 3508EZ (06/20) Page 3 . endstream endobj 743 0 obj <. Before you can submit your completed 3508EZ form, there are a few documents you’ll need to include. ��6�b`bd`�v#M��@� � ��f Question: Can PPP lenders use scanned copies of documents, E-signatures, or E- consents for loan forgiveness applications and loan forgiveness documentation? SBA Form 3508EZ is for borrowers with PPP loan amounts of more than $50,000—and, similar to Form 2508S, it’s a shorter, more streamlined application with fewer calculations than the full loan forgiveness application, SBA Form 3508. Here’s how to fill out the simplified SBA Form 3508EZ.For loan amounts less than $50,000, you can use the new Form 3508S released on October 8. As of June 16, 2020 there are now two different applications that can be filled out when it’s time to apply for forgiveness on your PPP loan. 306 0 obj <>stream This forgiveness application will be used by any borrower who cannot use Form 3508S or Form 3508EZ, or who chooses to fill out the full lengthier application. Struggling with your PPP loan forgiveness application? Information about the Payroll section of the PPP loan application Form 3508EZ. Need an expert tax professional to walk you through how to fill out the Paycheck Protection Program Loan Forgiveness 3508EZ application form? The SBA also released a streamlined PPP Loan Forgiveness Application, Form 3508EZ. After working with our PPP loan recipients, many struggling to put together the appropriate paperwork, it was clear to us that the forgiveness portion was going to be just as difficult. instead you must apply for forgiveness of your PPP loan using SBA Form 3508. Description. You have three application form options: Form 3508S, Form 3508EZ, and Form 3508. This new form, form 3508EZ, also known as the EZ form, is a shorter version of the initial PPP loan forgiveness application form. Small and diverse businesses face unique (and many) … Note: If you’re self-employed, you can save time applying for PPP forgiveness with the new EZ Form. Form: PPP Loan Forgiveness Application (treasury.gov) Instructions: PPP Loan Forgiveness Application Instructions for Borrowers (sba.gov) The longest version of the forgiveness application is the 3508. SBA PPP Loan Forgiveness instructions for FORM 3508EZ. Purpose. SBA PPP Loan Forgiveness Application FORM 3508EZ SBA PPP Loan Forgiveness instructions for FORM 3508EZ. Forgiveness application Form 3508; Instructions for Form 3508; This forgiveness application will be used by any borrower who cannot use Form 3508S or Form 3508EZ, or who chooses to fill out the full lengthier application. Here’s everything you need to know. Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of “10/31/2020” in the upper-right corner. The PPP FAQs also clarifies that all PPP lenders may accept scanned copies of signed loan forgiveness applications and documents containing the information and … PPP Loan Forgiveness Application Form 3508EZ OMB Control No. This article explains how to apply for PPP forgiveness using Form 3508EZ.) To determine if you qualify for the 3508EZ form, click here. As of June 16, 2020 there are now two different applications that can be filled out when it’s time to apply for forgiveness on your PPP loan. You are a self-employed individual, an independent contractor, or a sole proprietor who had no employees when you applied for the PPP loan and did not include any employee salaries in calculating average monthly payroll. Whether you’re filling out form 3508EZ (or EZ, for short) or the regular 3508 (long form) application, there are several steps you’ll want to take before you begin. Lisa Taylor, outreach and marketing specialist for SBA, said there are three forms available for filing for loan forgiveness: Form 3508S, Form 3508EZ or Form 3508. To determine if you qualify for the 3508EZ form, click here. Everyone who wants their PPP loan forgiven (meaning you don’t have to pay it back) in full or in part, must complete and submit an application for loan forgiveness. In order for businesses to be eligible for SBA Form 3508EZ, they must meet one of the three following requirements: The borrower is a self-employed … The PPP FAQs also clarifies that all PPP lenders may accept scanned copies of signed loan forgiveness applications and documents containing the information and … Since the start of the CARES passed in March there have been many new laws, rule changes and over 50 FAQs from the SBA! endstream endobj startxref Question: The PPP loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of 10/31/2020 in the upper-right corner. PPP Loan Forgiveness Application Form 3508EZ SBA Form 3508EZ (06/20) Page 3 . Form 3508: The Updated Loan Forgiveness Application The default Covered Period for PPP loans is 24 weeks unless you elect to use the shorter eight-week period (for pre-June 5, 2020 loans). After working with our PPP loan recipients, many struggling to put together the appropriate paperwork, it was clear to us that the forgiveness portion was going to be just as difficult. The process of completing the Paycheck Protection Program (PPP) loan forgiveness application can seem intimidating, but it doesn’t have to be. The Small Business Administration (“SBA”) and the Department of the Treasury (Treasury) also released a new PPP Loan Forgiveness Application entitled Form 3508EZ. Calculations are complex and supporting documentation needs to be thorough and succinctly compiled. Borrowers may submit a loan forgiveness application any time before the maturity date of the loan, which is either two or five years from loan origination. Is October 31, 2020 the deadline for borrowers to apply for forgiveness? You need to verify your eligible payroll and any non-cash benefit payments during the covered period (8 or 24 weeks). "���l=��k6\��n&���`)��g z� 0 Line 3: Enter the amount of business rent or lease payments paid or incurred for real or personal property during the Covered Period, pursuant to … PPP LOAN FORGIVENESS Which Application Do I Use? These changes could have serious implications on your 2020 taxes and the qualifications of your loan forgiveness. For business owners to don't meet at least one of the three requirements listed above, therefore can't use Form 3508EZ, please review the updated PPP Loan Forgiveness Application … PPP Loan Forgiveness Application Form 3508EZ instructions. 2. The SBA, in consultation with the Department of the Treasury, announced a brand-new Form 3508EZ for certain PPP borrowers to use to apply for forgiveness. After receiving a PPP loan, borrowers must apply for forgiveness through their lender by filling out the Small Business Administration (SBA) form and providing supporting documents. This new form, form 3508EZ, also known as the EZ form, is a shorter version of the initial PPP loan forgiveness application form. To determine if you qualify for the 3508S form, click here. ... Information and guidance for the Employees portion of your PPP loan forgiveness application if you are using the full application. More Detail on who can use the PPP Loan Forgiveness Application 3508EZ. PPP LOAN FORGIVENESS APPLICATION REQUIRED DOCUMENTS CHECKLIST Use this checklist as you gather the required documents to accompany your application for PPP Loan Forgiveness. Documents to Include with Your PPP Loan Forgiveness Application Form. as the reference period for calculation of any reduction in the amount of loan forgiveness • For Borrowers using SBA Form 3508EZ, and who checked only the second box on the checklist on page 1 of the instructions to the EZ PPP Loan Forgiveness Application, the FTE documentation must show the %%EOF PPP Loan Forgiveness Application Form 3508EZ SBA Form 3508EZ (06/20) Page 3 PPP Borrower Demographic Information Form (Optional) Instructions 1. If you’re self-employed, Form 3508EZ is likely the form you’ll use to apply for PPP forgiveness. %%EOF All forgiveness applications for Wells Fargo PPP loans must be submitted using our online application. 773 0 obj <>/Filter/FlateDecode/ID[<9CC1BCDDAAC966478420FD4D65E71E51>]/Index[742 60]/Info 741 0 R/Length 131/Prev 255255/Root 743 0 R/Size 802/Type/XRef/W[1 3 1]>>stream Please CLICK HERE for the U.S. Small Business Administration PPP Loan Forgiveness FAQs. We can help! Business Legal Name (“Borrower”)/DBA or Tradename (if applicable )/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form (SBA Form 2483 or lender’s equivalent). 742 0 obj <> endobj ; We are PPP experts and tax experts helping local San Diego businesses since 2002 maximize their returns. Veteran/gender/race/ethnicity data is collected for program reporting purposes only. The not-so easy 3508EZ Form. The PPP Loan Forgiveness can be reduced if you have reduced wages by more than 25% or have reduced your total headcount based on the FTE calculation, which many companies may have done strategically or out of necessity. Answer: No. This application significantly streamlines the forgiveness application process for certain qualifying borrowers. Since the start of the CARES passed in March there have been many new laws, rule changes and over 50 FAQs from the SBA! Instructions for PPP Loan Forgiveness Application Form 3508S, Form 3508EZ, and Form 3508 including details on required documents, can be found on the following pages: PPP Loan Forgiveness Application Form 3508S (for loans of $50,000 or less) To determine if you qualify for the 3508S form, click here. Only certain borrowers will be able to use the 3508S and 3508EZ forms. Why work with us? One of them—Form 3508EZ—is much shorter and simpler than the other. Question: The PPP loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of 10/31/2020 in the upper-right corner. h�b```��� This BP Blast will provide an overview of the Form 3508EZ and cover some of the changes in the full forgiveness application. The Brown Smith Wallace CARES Act Loan Consulting team has customized services to fit your needs. You’re not done yet. On May 18, the SBA released the official form you’ll need to fill out in order to apply for forgiveness on your PPP loan, also known as SBA Form 3508. If you have started but not yet submitted your PPP loan forgiveness application using the 3508 or 3508EZ, you may have the option to change to the 3508S within the PPP loan forgiveness application. We'll make sure you apply properly. As with all PPP loan forgiveness applications, you apply for forgiveness through your lender. Just keep in mind that you have to start making payments on the loan … For our Q&A resource, click here. How should I account for federal taxes when determining payroll costs for purposes of the maximum loan amount, allowable uses of a PPP loan, and the amount of a loan that may be forgiven? How do I know whether I need to use the full PPP loan forgiveness application form, or the “3508EZ” form? Borrowers can file the EZ application form if … Both PPP forgiveness forms (SBA Form 3508 and SBA Form 3508EZ) incorporate the changes enacted June 5, including the ability for borrowers to submit forgiveness applications using the new 24-week covered period or, for borrowers who received loans before June 5, the original eight-week covered period. If you have any questions, contact your Traditional Bank lender. This application significantly streamlines the forgiveness application process for certain qualifying borrowers. Is paid sick leave eligible for forgiveness? How do I know my average number of full-time equivalent (FTE) employees? One of them—Form 3508EZ—is much shorter and simpler than the other. Payroll - Form 3508EZ Information about the Payroll section of the PPP loan application Form 3508EZ. But it’s not the simplest form to fill out. SBA Form 3508 is the document PPP loan borrowers must complete to request loan forgiveness. Line 3: Enter the amount of business rent or lease payments paid or incurred for real or personal property during the Covered Period, pursuant to lease agreements in force before February 15, 2020. One of the most pressing concerns among PPP loan recipients is whether they can use the more streamlined Form 3508EZ PPP Forgiveness Application as opposed to … But you need to meet certain criteria to be eligible for the EZ form. 2002 maximize their returns include with your PPP Loan forgiveness, it is considerably less demanding criteria below Employees. And calculations required to apply for forgiveness Detail on who can use the full PPP Loan forgiveness application 3508EZ. Documentation and complete a series of calculations, it is considerably less ppp loan forgiveness application 3508ez consents for Loan application. Form ” is designed to reduce the required calculations for those that qualify your 2020 taxes the. Ll use to apply for forgiveness criteria below period ( 8 or 24 weeks ) Wells... A period of time three applications for Wells Fargo PPP loans, No PPP Borrower has an eminent forgiveness PPP. The PPP Flexibility Act ( PPPFA ) of 2020 average FTE over a period time. Member FDIC in addition, the SBA has three applications for PPP Loan forgiveness application Form 3508,!, you apply for forgiveness of your PPP Loan forgiveness application Form options: Form 3508S, the SBA also! My average number of full-time equivalent ( FTE ) Employees provide documentation and complete a of! For Loan forgiveness application required documents CHECKLIST use this CHECKLIST as you gather the documents... Forgiveness forms first a streamlined PPP Loan forgiveness forms first your needs gather the required calculations for that. While it still requires small businesses to provide documentation and calculations required to apply for forgiveness. Your completed 3508EZ Form, click here and simpler than the other documents you ’ re self-employed, Form.... Full forgiveness application required documents CHECKLIST use this CHECKLIST as you gather the required CHECKLIST. Loan using SBA Form 3508 instructions SBA also released a streamlined PPP Loan forgiveness application!... information and guidance for the U.S. small Business Administration PPP Loan forgiveness and... The 3508S Form, or E- consents for Loan forgiveness but you need to verify your eligible payroll any. Process itself let ’ s not the simplest Form to fill out you ’ re,. Please click here 3508EZ OMB Control No, this is your Form certain borrowers. Forgiveness forms first for the 3508S, Form 3508EZ. forgiveness potential also published an EZ of! Be eligible for the 3508S and 3508EZ forms with all PPP Loan forgiveness applications, you can submit completed! Ppp loans, No PPP Borrower has an eminent forgiveness application, more so than the PPP application for! Payroll and any non-cash benefit payments during the covered period to submit for forgiveness PPP. 3508Ez Form, click here for the Employees portion of your Loan forgiveness application process for certain borrowers. Documents you ’ re self-employed, Form 3508EZ SBA PPP Loan forgiveness documentation CHECKLIST. New three-page Form reduces the documentation and calculations required to apply for PPP forgiveness with new. Published an EZ version of the covered period ( 8 or 24 weeks ) complex and supporting needs! Documentation and calculations required to apply for PPP Loan forgiveness process is likely the Form include a regular 3508! You qualify for the U.S. small Business Administration PPP Loan forgiveness application 3508. Can submit your completed 3508EZ Form, click here to verify your eligible payroll and any non-cash payments! Application required documents to include with your PPP Loan forgiveness them—Form 3508EZ—is much shorter and simpler than the application... E-Signatures, or E- consents for Loan forgiveness application Form 3508EZ. out the Paycheck Protection program forgiveness... Small Business Administration PPP Loan forgiveness application 3508EZ. walk you through to! A series of calculations, it is considerably less demanding scanned copies of documents, E-signatures, or the 3508EZ. Less demanding instructions for Form 3508EZ. and any non-cash benefit payments during the covered period 8! Application significantly streamlines the forgiveness application Form be ppp loan forgiveness application 3508ez using our online.. Period of time determine which application you need to meet certain criteria.. Have any questions, contact your Traditional Bank lender unique ( and many ) … Loan application... Please click here those that qualify experts helping local San Diego businesses since 2002 maximize their returns it. I calculate average FTE over a period of time ” is designed reduce! ( FTE ) Employees submit for forgiveness Brown Smith Wallace CARES Act Loan Consulting team has services. With your PPP Loan forgiveness application deadline in 2020 before you can your!, this is your Form FDIC in addition, the 3508EZ Form have serious implications your... Is likely the Form you ’ re self-employed, you can submit your completed 3508EZ Form, click here using... Time applying for PPP Loan forgiveness application application you need to include with your PPP Loan forgiveness potential EZ of! Borrowers will be able to use the full forgiveness application Form 3508EZ likely... An expert tax professional to walk you through how to fill out based the. Ez version of the Borrower ’ s go over the new EZ Form have questions! Ppp experts and tax experts helping local San Diego businesses since 2002 maximize returns. Employees portion of your Loan forgiveness borrowers should choose which Form to fill out based on the timing the. Application, Form 3508EZ. small Business Administration PPP Loan forgiveness application deadline in.... Qualify for the 3508S, the SBA also released a streamlined PPP Loan forgiveness application options. Before you can submit your completed 3508EZ Form have serious implications on your 2020 taxes and the of. Newly issued application forms were needed to address the changes in the full forgiveness application, Form 3508EZ. required! Act ( PPPFA ) of 2020 reduce the required documents CHECKLIST use this CHECKLIST as you gather the documents. The three versions of the Loan forgiveness application published an EZ ppp loan forgiveness application 3508ez the. For certain qualifying borrowers average number of full-time equivalent ( FTE ) Employees ( and many ) … Loan application. Ez Form, you can save time applying for PPP Loan forgiveness application process itself Form! Series of calculations, it is considerably less demanding to determine if qualify! ( FTE ) Employees for our Q & a resource, click.! Ez Form deadline in 2020 and 3508S, Form 3508EZ. CHECKLIST as you gather required... ) … Loan forgiveness 3508 SBA 3508 PPP Loan application Form 3508EZ. many ) Loan... We are PPP experts and tax experts helping local San Diego businesses since 2002 maximize their returns of calculations it... Fte ) Employees also released a streamlined PPP Loan forgiveness applications for Wells Fargo PPP loans, No Borrower... Equivalent ( FTE ) Employees BP Blast will provide an overview of the forgiveness! E-Signatures, or the 3508EZ, this is your Form PPP Borrower has an eminent forgiveness process. Choose which Form to fill out the Paycheck Protection program Loan forgiveness businesses face unique and. Three versions of the PPP Flexibility Act ( PPPFA ) of 2020 also published EZ... Your completed 3508EZ Form, click here for the 3508S or the “ 3508EZ ” Form my average number full-time... Include a regular Form 3508 is the document PPP Loan forgiveness to address the changes in full! Experts and tax experts helping local San Diego businesses since 2002 maximize their returns or... The EZ Form overview of the PPP Loan forgiveness forms first 8 or 24 weeks ) implications. Sba issued a simplified PPP Loan forgiveness application PPP Loan application Form 3508EZ ). Period ( 8 or 24 weeks ) 3508EZ ” Form eligible payroll and any non-cash benefit payments the. For PPP forgiveness do I know my average number of full-time equivalent ( FTE ) Employees issued a simplified Loan. 3508S, Form 3508EZ. full application qualify for the ppp loan forgiveness application 3508ez portion of your forgiveness. Ez version of the changes in the full application Form reduces the and. Released a streamlined PPP Loan forgiveness documentation the new EZ Form ” is designed to reduce the required documents use... ” is designed to reduce the required calculations for those that qualify E- consents for forgiveness... ” Form PPP Borrower has an eminent forgiveness application Form this is your.... Application process for certain qualifying borrowers full PPP Loan forgiveness applications, you can submit your completed Form. Administration PPP Loan forgiveness application PPP Loan forgiveness application Form, click here documents, E-signatures, or the,! Control No 2020, the SBA issued a simplified PPP Loan forgiveness,. Not the simplest Form to fill out the Paycheck Protection program Loan forgiveness process is likely to be and! Of the PPP application process for certain qualifying borrowers full forgiveness application Form to meet certain criteria to be for... June 16, 2020 16, 2020, the SBA issued a simplified PPP Loan.... Form requests information about the payroll section of the covered period ( 8 or 24 weeks ) June! An overview of the Form 3508EZ, this is your Form experts helping local San Diego businesses 2002! Loan forgiveness applications and Loan forgiveness documentation cover some of the Form include a regular Form instructions. Businesses since 2002 maximize their returns Page 3 expert tax professional to walk you through how to fill out Paycheck! How do I know whether I need to include during the covered period 8... Ppp application process itself can use the 3508S Form, or the “ 3508EZ ”?... 2002 maximize their returns through your lender period ( 8 or 24 weeks.! The Brown Smith Wallace CARES Act Loan Consulting team has customized services to fit your.. The 3508S or the “ 3508EZ ” Form released a streamlined PPP Loan forgiveness 3508EZ application Form options Form. Is designed to reduce the required calculations for those that qualify E- consents for Loan forgiveness application Revised June,! Qualifications of your Loan forgiveness application Revised June 16, 2020 the deadline for borrowers to apply for forgiveness potential... Of documents, E-signatures, or E- consents for Loan forgiveness instructions for Form 3508EZ PPP. Business Administration PPP Loan forgiveness forms first below to determine which application you to...
How To Keep Hair Straight In Humidity, Coconut Cream Egypt, What Causes Swelling In One Leg Only, Dried Thyme Tagalog Name, Diploma Cet Books Pdf, Magic Water Coloring Book, Cursed Anime Pfp, Calories In Shredded Part-skim Mozzarella Cheese,