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SBA FORM 3508 S PPP FORGIVENESS APPLICATION INSTRUCTIONS 1. 2. 3.Gather all of your documentation related to your PPP Loan including your PPP Schedule A Worksheet or its equivalent, all schedules,.

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Related content

PPP 3508S Loan Forgiveness Application +...
Jan 19, 2021 — SBA Form 3508S. Updated 01-19-21. A BORROWER MAY USE THIS FORM ONLY IF...
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If you are a sole proprietor, contractor, or self-employed, you are eligible to take owner compensation replacement (OCR). ... You can calculate your OCR by taking 8/52 or 24/52 (depending on your covered period length) of your net income reported on line 31 of your Schedule C.

Only borrowers who took out loans that were $150,000 or less can use the form. ... Form 3508S requires fewer calculations and less documentation than Forms 3508 and 3508EZ. If you took out a loan of $50,000 or less, your forgiveness amount won't be reduced if you decreased your FTE employee levels or wages.

Who can use Form 3508S? Form 3508S is the simplest PPP loan application form available. Only borrowers who took out loans that were $150,000 or less can use the form. The Consolidated Appropriations Act expanded who can use this version of Form 3508.

Who can use Form 3508S? If your PPP loan amount was less than $150,000, you can use the forgiveness Form 3508S. However, you are ineligible to use Form 3508S if your business has a contract or agreement of affiliation with other businesses and the PPP loan total across all affiliates is greater than $2 million.

PPP LOAN FORGIVENESS APPLICATION FORM 3508S INSTRUCTIONS FOR BORROWERS. You (the Borrower) can apply for forgiveness of your Paycheck Protection Program (PPP) loan using this SBA Form 3508S only if the total PPP loan amount you received from your Lender was $50,000 or less.

The 3508S and 3508EZ PPP forgiveness forms are shorter and easier to fill out than the standard 3508 form, so they will require less of your time. However, if you don't meet the requirements of the S or EZ forms, you'll have to take the time to fill out the longer 3508 form.

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.

Borrowers may also complete this application electronically through their Lender. If you are unable to check one of the boxes above, you cannot use SBA Form 3508EZ and instead you must apply for forgiveness of your PPP loan using SBA Form 3508.

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.

PPP LOAN FORGIVENESS APPLICATION FORM 3508S INSTRUCTIONS FOR BORROWERS. You (the Borrower) can apply for forgiveness of your Paycheck Protection Program (PPP) loan using this SBA Form 3508S only if the total PPP loan amount you received from your Lender was $50,000 or less.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
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