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Oct 12, 2018
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SBA has published the new simplified for PPP loans less than $150,000. Note that not all banks have started accepting simplified PPP forgiveness application yet. Please follow instructions from your banks on how to apply for the forgiveness. Who’s Eligible to Use the Simplified Application? Borrowers who received less than $150,000 in PPP loan can use the Form 3508S. What Information is Needed? The simplified application requires basic information about the business and PPP loan. Below are information needed to complete forgiveness application. For detailed list of information needed and instructions on filling out the application, refer to . Business information including Name, DBA, and contact information. This information can be found on the original PPP loan application. PPP loan information including PPP loan number and loan amount. This information can be obtained from the bank you received PPP loan from. The Covered Period begins on the date the loan was originally ... Continue reading →
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