SBA 3508S 2021 free printable template

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OMB Control No.: 32450407 Expiration Date: 7/31/2021Paycheck Protection Program PPP Loan Forgiveness Application Form 3508S Revised January 19, 2021, A BORROWER MAY USE THIS FORM ONLY IF THE BORROWER

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SBA 3508S Form Versions

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SBA 3508S 2021-07

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SBA 3508S 2021-01

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How to fill out SBA 3508S

01

Start by gathering documents that show your payroll costs, such as payroll tax filings, and documents that support the total amounts of your loan.

02

Fill out the borrower information section with your business name, address, and loan details.

03

Under the eligible expenses section, calculate and enter the total amount of payroll costs for the specified covered period.

04

Include eligible non-payroll expenses such as mortgage interest, rent, and utilities if applicable, and provide the total amounts.

05

Review the forgiveness calculations to determine the amount eligible for forgiveness based on the guidelines.

06

Sign and date the form, confirming that all information is accurate and complete.

Who needs SBA 3508S?

01

The SBA Form 3508S is needed by borrowers who received a Paycheck Protection Program (PPP) loan of $150,000 or less and wish to apply for loan forgiveness.

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What is SBA 3508S?

SBA 3508S is a simplified loan forgiveness application form for certain Paycheck Protection Program (PPP) borrowers to expedite the loan forgiveness process.

Who is required to file SBA 3508S?

Borrowers who received a PPP loan of $150,000 or less are required to file SBA 3508S.

How to fill out SBA 3508S?

To fill out SBA 3508S, borrowers must complete the form with their loan amount, calculate the forgiveness amount, and provide certifications. It may include necessary documentation supporting the loan usage.

What is the purpose of SBA 3508S?

The purpose of SBA 3508S is to simplify the process of applying for forgiveness for small PPP loans, making it easier for borrowers to comply with the requirements.

What information must be reported on SBA 3508S?

Borrowers must report their PPP loan amount, the amount of forgiveness requested, and certify compliance with the program requirements.

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