Loan Forgiveness Application Form 3508 Revised July 30, 2021 PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address NAICS Code Business TIN (EIN, SSN, ITIN) Business Phone ( ) - Primary Contact E-mail Address ☐rst Draw PPP Loan Fi ☐ Second Draw PPP Loan (check one) SBA PPP Loan Number: Lender PPP Loan Number: PPP Loan …PPP Loan Forgiveness Application Form 3508S OMB Control No. 3245-0407 Expiration date: 12/31/2023 A BORROWER MAY USE THIS FORM ONLY IF THE BORROWER RECEIVED A PPP LOAN OF $50,000 OR LESS. A Borrower that, together with its affiliates, received PPP loans totaling $2 million or greater cannot use this form. Business Legal Name (“Borrower”)11/03/2021 · Forms 3508S and 3508EZ are simplified versions of form 3508. The self-employed can use either simplified version to make applying for PPP loan forgiveness a breeze. Please note: you will not need to fill in these forms yourself. Instead, you apply for PPP forgiveness through your PPP lender, likely through an online application ;· Simplified PPP Loan Forgiveness. The Economic Aid Act (the “stimulus bill”) that passed December 27, 2020 required the SBA to create a simplified one-page PPP loan forgiveness application form. The SBA met that requirement by updating and releasing a new version of the forgiveness application 3508S. There are currently three forgiveness forms:26/02/2021 · Complete the Excel Forgiveness Calculator or your own worksheet to calculate your Forgiveness Amount. For self-employed individuals with no employees, use your PPP loan amount. Step 3. Borrower. Complete SBA forgiveness form, if the lender doesn't have an online Guide to the PPP Forgiveness Application Self-Employed Guide to the PPP Forgiveness Application Self-Employed Guide to the PPP Forgiveness Application How PPP Loan Forgiveness Works for the Self-Employed 04/05/2021 · PPP Loan Terms for Self-Employed Workers. The PPP loan program’s original rules made it difficult for self-employed workers to qualify for any meaningful size loan, and the payroll ratio requirements made it impossible to receive complete forgiveness on the loans. However, new changes to the program impact how self-employed worker loans are calculated and forgiveness criteria. Maximum PPP Loan …13/04/2021 · Applying for forgiveness Self-employed individuals can use a simplified forgiveness application called Form 3508S. This form applies to you if your loan amount is $150,000 or less. If your loan was for more than $150,000, you can use Form 3508EZ so long as you did not reduce your FTE headcount or salaries and wages by more than 25%.
