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This checklist outlines the necessary information and documentation required to complete the Paycheck Protection Program (PPP) loan forgiveness application. It includes company and loan details, payroll and headcount information, non-payroll expenses, and optional demographic information.
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How to fill out ppp loan forgiveness application

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How to fill out ppp loan forgiveness application

01
Gather necessary documents: Collect all relevant documents such as payroll records, tax forms, and utility bills.
02
Determine eligible expenses: Identify which expenses qualify for forgiveness, including payroll costs, rent, mortgage interest, and utilities.
03
Complete the application form: Fill out the PPP loan forgiveness application form (SBA Form 3508 or 3508EZ) accurately.
04
Calculate the loan forgiveness amount: Use the form's calculations to determine the total amount of loan forgiveness you are requesting.
05
Attach supporting documents: Include all required documentation that supports your forgiveness calculation.
06
Review and sign: Double-check your application for accuracy and sign the form.
07
Submit the application: Send your completed loan forgiveness application and documentation to your lender.

Who needs ppp loan forgiveness application?

01
Any business or organization that received a Paycheck Protection Program (PPP) loan and wishes to have part or all of it forgiven needs to fill out the PPP loan forgiveness application.
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The PPP loan forgiveness application is a form that borrowers of the Paycheck Protection Program (PPP) must submit to request the cancellation of their loans based on the funds used for eligible expenses.
Borrowers who received a PPP loan and wish to have it forgiven are required to file the PPP loan forgiveness application.
To fill out the PPP loan forgiveness application, borrowers need to provide information such as the loan amount, eligible payroll expenses, non-payroll costs, and additional documentation to support their request.
The purpose of the PPP loan forgiveness application is to assess whether the borrower used the funds appropriately for eligible expenses so that the loan can be forgiven, turning it into a grant.
The application must report information including the total amount of the loan, the number of employees retained, payroll costs, non-payroll expenses, and any reductions in salaries or wages.
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