15 10, 2020

SBA settles confusion over PPP forgiveness application due date

By |2020-10-15T10:30:55-05:00October 15th, 2020|COVID-19, Small Business|0 Comments

By Jeff Drew October 13, 2020 The U.S. Small Business Administration (SBA) released guidance Tuesday confirming that Paycheck Protection Program (PPP) loan forgiveness applications are not due on Oct. 31. Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration [...]

15 10, 2020

A New PPP Forgiveness Application is Out: What You Need to Know

By |2020-10-15T10:10:01-05:00October 15th, 2020|COVID-19, Small Business|0 Comments

The Application The 3508S is a one-page application, with a second page for demographic information. Instead of having to show your forgiveness amount calculation as you do on the 3508EZ, you simply certify seven things: The dollar amount for which forgiveness is requested does not exceed the principal amount of the PPP loan and: a) [...]

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