Please check the SBA website for published guidance and details. The information on this webpage is provided to assist PPP loan borrowers in generally understanding the process by which their loan may be forgiven, in whole or in part, but should not be relied upon as legal, tax, or financial advice. The SBA continues to produce new and revised guidance on the forgiveness aspects of the Paycheck Protection Program. The SBA has issued a decision on your loan forgiveness application, you can't That doesn’t require documentation? Can I reapply and include the newĬategories of forgiveness eligible expenses? Can I reapply for forgiveness using the new one-page, SBA Form 3508S
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Loan forgiveness, but my application was declined by the SBA, or the SBAĭetermined that I didn’t qualify for loan forgiveness in the full amount of my To check on the status of your application or access your Loanįorgiveness Specialist contact information, please log into our PPP Loan Forgiveness Portal. Status and updates via email and through your Loan Forgiveness You should receive PPP loan forgiveness application Your application or access your Loan Forgiveness Specialist contactįorgiveness, but haven't received a decision on my request. You can also log in to the online portal to check on the status of We need to clarify the information you’ve provided. Once you’ve provided the requested information andĭocumentation (if necessary), we’ll prepare your SBA Loan ForgivenessĪpplication form for your review and electronic signature. Review, once permitted to do so by the SBA. Of your forgiveness application and will inform you of the outcome of the SBA’s The SBA has up to 90 days to review it and inform the PPP loan provider if it’s Once a recommendation has been issued to the SBA, Signed SBA Loan Forgiveness Application form to issue a forgiveness How long will it take to process my loan forgiveness request?ĭays from receipt of a complete loan forgiveness application (including, asĪpplicable, receipt of all required supporting documentation) and a final We’ll send you an email with paymentĭetails prior to any payments being due. Your loan funds were disbursed), your loan will go into repayment status and Your particular circumstances to determine if utilizing the full availableĢ4-week period would be beneficial to you in maximizing your loan forgiveness.įorgiveness application within 10 months after the end of the 24-week periodīeginning on the date your loan was disbursed (approximately 17 months after When can I apply for PPP loan forgiveness?įorgiveness applications for PPP loans disbursed in 20.Īnd 24 weeks from the date your loan was disbursed to spend your loan funds on Supporting documentation is required to be provided along with your loan forgiveness application.Gross receipt reduction documentation will be required to support second draw loan eligibility, if not previously submitted at the time of loan application.No supporting documentation is required to be submitted with your loan forgiveness application.Supporting documentation with my loan forgiveness application?ĭocumentation is required to be submitted to support your application in certain circumstances. More than $150,000 will use either the 3508EZ or 3508 form. Or less should use the new, streamlined SBA Form 3508S.
Which loan forgiveness form should I use? Whether your use of the PPP loan funds meets the SBA’s loan forgiveness The amount of loan forgiveness will depend primarily on PPP loans may be forgiven in full or in part by the SBA, based on satisfying
What does loan forgivenessĭon’t have to pay back the portion of your PPP loan that is forgiven by the
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Instructions on how to apply for loan forgiveness. Loan through PayPal, please contact your loan provider for information and
From the site, click Log in to Get Started to begin your application. If you didn’t receive your PPP Loan through PayPal, additional information about the loan forgivenessĪpplication process and eligibility criteria is available on our PPP Loan Forgiveness website. Protection Program (PPP) loan forgiveness? Requirements regarding PPP loan forgiveness, go to our PPP Loan Forgiveness website or visit the SBA PPP loan forgiveness websiteįor all details. Please go to the Paycheck Protection Program loan site. To check the status of your loan or for additional questions, Can’t provide loan status through any of our contact channels, including phoneĪnd messaging.
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