Get Sba 3508 2021-2025

The SBA 3508 form is essential for businesses seeking forgiveness under the Paycheck Protection Program. This guide provides a clear, step-by-step approach to filling out the form online, ensuring that users can navigate the process with ease and accuracy.

Follow the steps to complete your SBA 3508 application online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Enter your business legal name and address in the designated fields. If applicable, provide your DBA or tradename and NAICS code. Additionally, enter your Business TIN (EIN, SSN, or ITIN) along with the primary contact's information.
3. Indicate whether you are applying for a First Draw or Second Draw PPP loan by checking the appropriate box. Fill in the SBA PPP Loan Number and Lender PPP Loan Number as needed.
4. Input the original PPP Loan Amount and the PPP Loan Disbursement Date accurately, making sure the figures match your loan documentation.
5. Fill out the number of employees at the time of loan application and at the time of forgiveness application. Specify the covered period duration.
6. In the forgiveness amount calculation section, enter all applicable payroll and nonpayroll costs incurred during the covered period. This includes amounts for payroll costs, business mortgage interest, rent or lease payments, utility payments, and any related costs.
7. Complete the adjustments section for Full-Time Equivalency (FTE) and salary/hourly wage reductions by providing necessary data from PPP Schedule A.
8. Review the potential forgiveness amounts and ensure that you enter the minimum amount from the specified lines into the forgiveness amount field.
9. For optional borrower demographic information, complete as applicable. This section is voluntary and will not affect your loan forgiveness.
10. Finally, review all information for accuracy, sign the application, and provide the date and your printed name. Save changes, download, print, or share the completed form as necessary.

Complete your SBA 3508 application online today to ensure timely processing of your loan forgiveness.