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  • Ppp Loan Forgiveness Application Form 3508ez ... - Treasury

Get Ppp Loan Forgiveness Application Form 3508ez ... - Treasury

SBA FORM 3508 EZHighlighted fields need to be completed, all other boxes will selfpopulatePPP FORGIVENESS APPLICATION INSTRUCTIONS2. 3.Gather all of your documentation related to your PPP Loan including.

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Estimated Maximum PPP Loan Amount Your maximum PPP loan amount will be 2.5 times your average monthly payroll costs, up to $10 million. You can only receive one PPP loan, so if you apply for a PPP loan you may consider applying for the maximum amount you are eligible for.

3508EZ: Borrowers who are self-employed with no employees OR borrowers who did not reduce employee salaries by more than 25% and did not reduce employee hours OR borrowers who reduced business activity due to COVID-19 health guidelines and did not reduce employee salaries by more than 25%

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.

You'll use your gross income—not your net income—to calculate your PPP loan amount. Take your gross income (not to exceed $100,000), divide it by 12, and multiply that number by 2.5 to get your loan amount. How do I fill out schedule C for PPP loan application?

Are you a self-employed individual, independent contractor or sole proprietor who had no employees and did not include any employee salaries in calculating average monthly payroll when you applied for your PPP loan? If YES, use Form 3508EZ.

Payment receipts, cancelled checks, or account statements documenting the amount of any employer contributions to employee health insurance and retirement plans that the Borrower included in the forgiveness amount.

For a 24-week Covered Period, that total is $46,154 for purposes of this 3508EZ. You can only include compensation of employees who were employed by the Borrower at any point during the Covered Period or Alternative Payroll Covered Period and whose principal place of residence is in the United States.

You (the Borrower) can apply for forgiveness of your First or Second Draw Paycheck Protection Program (PPP) Loan using the SBA Form 3508EZ if your PPP loan amount is more than $150,000 and you can answer “Yes” to either 1) or 2) below. If your loan amount is $150,000 or less, you will use SBA Form 3508S.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232