SBA 3508S 2021-2025 free printable template
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OMB Control No.: 32450407 Expiration Date: 01/31/2022Paycheck Protection Program PPP Loan Forgiveness Application Form 3508S Revised July 30, 2021, A BORROWER MAY USE THIS FORM ONLY IF THE BORROWER
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How to fill out ppp forgiveness form 3508s
How to fill out SBA 3508S
01
Gather all relevant financial documents and information.
02
Complete the borrower information section with your business details.
03
Calculate your payroll costs by summing all eligible expenses.
04
Enter the total amount of the loan you received.
05
Fill in the covered period, which is typically 8 to 24 weeks after receiving the loan.
06
Provide information regarding any FTE (full-time equivalent) employees you retained.
07
Complete the sections related to non-payroll costs if applicable.
08
Review the form for accuracy and completeness before submission.
Who needs SBA 3508S?
01
Small businesses and certain non-profit organizations that received a Paycheck Protection Program (PPP) loan of $150,000 or less.
02
Businesses that are looking to apply for loan forgiveness under the PPP guidelines.
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People Also Ask about
What is a SBA Form 2483?
By signing SBA Form 2483, Borrower Information Form in connection with this application for an SBA-guaranteed loan, the Applicant certifies that it has read the Statements Required by Law and Executive Orders, which is attached to Form 2483.
Is PPP coming back?
Unfortunately, PPP loans in 2022 aren't happening –– eligibility for the program ended in May 2021 and there are no signs of it coming back. There are other options for securing small business funding besides PPP loans. Read on to learn about your options for how to get the funding you need.
Is there a public list of who received PPP loans?
If you're looking to check who's received EIDL grants, EIDL loans, or PPP loans, the SBA has made recipient data publicly available.
How do I fill out a PPP loan and get approved?
How to Complete Your PPP Loan Application Step 1: Access your PPP Application. Step 2: Add or Confirm Existing Business Information. Step 3: Add New Requirements for Business Information. Step 4: Enter or Confirm Ownership. Step 5: Enter or Confirm Additional Owner Info. Step 6: Upload or Confirm Documents.
How much money is left in the PPP program as of today 2021?
PPP Money – Nearly All Gone: Only $8 billion remains available. Source: CBS News, April 6, 2021.
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What is SBA 3508S?
SBA 3508S is a simplified loan forgiveness application provided by the Small Business Administration for borrowers of the Paycheck Protection Program (PPP) who received loans of $150,000 or less.
Who is required to file SBA 3508S?
Borrowers with PPP loans of $150,000 or less are required to file SBA 3508S to apply for loan forgiveness.
How to fill out SBA 3508S?
To fill out SBA 3508S, borrowers need to complete the form with information regarding their PPP loan, total payroll costs incurred during the covered period, and other eligible expenses. Detailed instructions are provided with the form.
What is the purpose of SBA 3508S?
The purpose of SBA 3508S is to streamline the loan forgiveness application process for small businesses with minimal loan amounts, making it easier and faster to apply for forgiveness.
What information must be reported on SBA 3508S?
SBA 3508S requires reporting of the PPP loan amount, the amount of forgiveness being requested, and certification that the borrower used the funds according to PPP guidelines.
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