Paycheck Protection Program Assistance
PPP Loan Forgiveness Application 3508S Updated – added 10.9.2020
(For loans $50,000 or under)
The Small Business Administration has released much-anticipated guidance on a streamlined loan forgiveness application for the Paycheck Protection Program for loans totaling $50,000 or less. Form 3508S, a two-page forgiveness application, includes borrower certifications; however, it does not require calculations be submitted with the application. Applicants must supply documentation verifying forgivable payroll and non-payroll expenses.
Here’s the link to download a copy of Form 3508S. Please refer to the Instructions for Form 3508S for guidance on how to complete the PPP loan forgiveness application for loans totaling $50,000 or less.
PPP 3508EZ Forgiveness Application
(Must review checklist to use this form)
While the Small Business Administration (SBA) has not issued a final rule on the PPP loan forgiveness application, we are pleased to inform that we will begin accepting applications from our PPP loan customers. To determine which PPP loan forgiveness application you should complete, please refer to these instructions. Note: you only need to check one of the boxes to use Form 3508EZ.
Here’s what you will need in order to begin the process of applying for forgiveness of your PPP loan.
- Detailed instructions provided by the SBA on how to properly complete the PPP 3508 EZ Forgiveness form. Please read!
- Completed 3508EZ Loan Forgiveness Application – All the required information can be found in the documents you received at your loan closing. The SBA loan # and EIDL application # may be left blank.
PPP 3508 Forgiveness Application
(For anyone who does not meet the qualifications for 3508S or 3508EZ)
The 3508 Loan Forgiveness Long Form is to be used by those businesses who do not meet the qualifications for the 3508S or 3508EZ forms. Again, the SBA loan # and EIDL application # may be left blank.
Please send your completed PPP loan forgiveness application along with all supporting documentation to PPPForgiveness@fsbnh.bank.
Here are some links to a few documents containing updates on the SBA’s PPP Loan Forgiveness Program.
- SBA Interim Final Rule – Business Loan Program Temporary Changes –
Treatment of Owners & Forgiveness of certain Nonpayroll Costs – added 8.26.2020
- SBA Instructions for Forgiveness App – updated 9.1.2020
- SBA PPP Loan Forgiveness Interim Final Rule
- PPP Loan Forgiveness Form 3508EZ Instructions
- PPP Loans FAQs – Final – updated 8.11.2020
- FAQs on PPP Loan Forgiveness – updated 8.11.2020
If you have any questions which may not have been answered in the aforementioned materials, then please contact the SBA directly at PPPForgivenessRequest@sba.gov. They will be able to answer any further questions concerning your PPP loan forgiveness application.