SBA 3508EZ 2021 free printable template
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OMB Control No.: 32450407 Expiration Date: 7/31/2021Paycheck Protection Program PPP Loan Forgiveness Application Form 3508EZ Revised January 19, 2021, Business Legal Name (Borrower) Business Address
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How to fill out SBA 3508EZ
01
Gather necessary documentation such as payroll records, tax forms, and loan information.
02
Begin filling out the SBA 3508EZ form by providing your business name and address at the top.
03
Fill in your SBA loan number and any other identifying information required in the first section.
04
In the second section, summarize your payroll costs, including salaries, wages, and benefits.
05
Provide information on full-time equivalent (FTE) employee calculations, if applicable.
06
Fill out the section detailing any non-payroll costs that qualify for loan forgiveness, like mortgage interest or rent.
07
Complete any certification and declaration sections to confirm the accuracy of your information.
08
Review the entire form for completeness and accuracy before submitting.
Who needs SBA 3508EZ?
01
Businesses that received a Paycheck Protection Program (PPP) loan and want to apply for loan forgiveness.
02
Sole proprietors or self-employed individuals who utilized a PPP loan.
03
Borrowers that have used most or all of their PPP loan for eligible expenses.
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What is SBA 3508EZ?
SBA 3508EZ is a simplified application form for businesses seeking loan forgiveness under the Paycheck Protection Program (PPP). It is designed for borrowers who meet specific criteria.
Who is required to file SBA 3508EZ?
Borrowers who meet certain eligibility requirements, including those who did not reduce salaries or wages of employees by more than 25%, and did not reduce the number of employees or average hours of work, can file SBA 3508EZ.
How to fill out SBA 3508EZ?
To fill out SBA 3508EZ, borrowers should complete the form by providing required financial information, such as the amount of the loan, the number of employees, and the eligible expenses incurred during the covered period.
What is the purpose of SBA 3508EZ?
The purpose of SBA 3508EZ is to simplify the loan forgiveness process for borrowers who meet specific criteria, allowing them to demonstrate that they used the funds for eligible purposes without the complexity of the full application.
What information must be reported on SBA 3508EZ?
Borrowers must report the amount of the PPP loan, total payroll costs, the number of full-time equivalent employees, and eligible non-payroll expenses incurred during the covered period.
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