SBA 3508EZ 2021-2026 free printable template

OMB Control No.: 32450407 Expiration Date: 01/31/2022Paycheck Protection Program PPP Loan Forgiveness Application Form 3508EZ Revised July 30, 2021, Business Legal Name (Borrower) Business Address

How to fill out forgiveness application sba form

How to fill out SBA 3508EZ

1. Gather necessary documentation: Collect all required financial documents, including payroll records, mortgage interest payments, rent agreements, and utilities invoices.
2. Start with the borrower’s information: Fill in your business name, address, and contact details at the top of the form.
3. Indicate the loan amount: Provide the total amount of the PPP loan you received.
4. Complete the eligibility criteria: Confirm your eligibility by checking the appropriate boxes related to your situation under the eligibility requirements.
5. Calculate the total payroll costs: Use the instructions provided to calculate total payroll costs for the covered period.
6. Fill in required certifications: Review and sign the necessary certifications regarding the loan and use of funds.
7. Complete the forgiveness request: Fill out the section specific to the amount you are requesting for forgiveness.
8. Submit the form: After double-checking all entries and calculations, submit the completed SBA 3508EZ form to your lender.

Who needs SBA 3508EZ?

1. The SBA 3508EZ form is designed for small businesses and self-employed individuals who received a PPP loan.
2. It is intended for borrowers who meet specific criteria such as having no reduction in employee salary or hourly wages and not reducing the number of full-time equivalent employees.

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What is SBA 3508EZ?

SBA 3508EZ is a simplified loan forgiveness application provided by the Small Business Administration (SBA) for borrowers of Paycheck Protection Program (PPP) loans. It is designed for borrowers who meet specific criteria, allowing them to streamline the forgiveness process.

Who is required to file SBA 3508EZ?

Borrowers who received a PPP loan of $50,000 or less, and those who have maintained their payroll levels and have not reduced employee hours or salaries, may be required to file SBA 3508EZ.

How to fill out SBA 3508EZ?

To fill out SBA 3508EZ, borrowers need to provide information including their loan amount, number of employees, and confirm that they have used the funds for eligible expenses. Detailed instructions are included with the form.

What is the purpose of SBA 3508EZ?

The purpose of SBA 3508EZ is to provide a simplified process for PPP loan forgiveness for eligible borrowers, making it easier to comply with the requirements without extensive documentation.

What information must be reported on SBA 3508EZ?

The information that must be reported on SBA 3508EZ includes the loan amount, the number of employees at the time of application and forgiveness, payroll expenses, and a certification statement confirming that the funds were used for eligible expenses.