Sba Form 3508 Ez

Both the standard form, Form 3508, and the “simplified” form, Form 3508EZ, are available on the Treasury’s website, along with instructions. You'll have to fill out the regular 3508 form if. 5/12) of 2019 net profit, capped at $20,833, for borrowers that used the 24 week covered period. 2020) Fillable-508 (U. 3 PPP Loan Forgiveness Application Forms Updated by SBA - Form 3508S - Form 3508EZ - Form 3508 from sba ppp loan forgiveness portal Watch Video Play Video: HD VERSION REGULAR MP4 VERSION (Note: The default playback of the video is HD VERSION. CERTIFY Did not reduce wages more than 25% AND did not. Payroll Documentation (include all of the following for each application): 1. Our built in email ability allows you to send the form directly to the signee from Fill with a personalised email subject and message. Form 3508EZ or Form 3508S may complete the 3508 Standard Form. Form 3508 is the general form to be used by borrowers that do not qualify for Form 3508EZ or 3508S. Established by the US Small Business Administration, this unique program allows loans to be forgiven, provided the funds are used in a requisite manner. 3508 Ez Form PPP – Just in case you need immediate loan endorsement, the PPI loan forgiveness program is a great way to get cash you will need immediately. Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period. This form must be provided as part of the forgiveness. The SBA also released a PPP Loan Forgiveness Application Form 3508EZ (EZ Form) for certain PPP borrowers to use, if eligible. - Familiarize yourself with the SBA Loan Forgiveness Form 3508EZ Instructions to understand if you can use Form 3508EZ. Ppp loan forgiveness application form 3508 instructions Image: Flamingo Images (Shutterstock)If you applied for a loan through the Paycheck Protection Program (PPP), you may be eager to see if your small business qualifies for loan forgiveness. (Photo by … [+] Allen J. SBA Form 3508EZ 0121 Page 4. SAMPLE DO NOT SUBMIT. OMB Control No. SBA is hosting free webinars to gain an overview of the application process and key information that you will need to prepare and submit with the PPP Forgiveness application to your SBA lender. 5 months worth (2. information requested should be sent to Small Business Administration, Director, Records Management Division, 409 3rd St. Who can use the 3508 EZ Form? The application can be found at www. Seamen’s Bank is now accepting PPP loan forgiveness applications for first and second draw loans through our PPP Loan Portal. The EZ version is much simpler to complete and most borrowers qualify to use this form. These changes are intended to make the application process easier on borrowers and to increase efficiency for lenders and borrowers alike. The SBA (in conjunction with the Treasury) have released a simplified version of the PPP forgiveness application, but the BIG question iswho can use it. SBA Form 3508EZ (06/20) Page 3. Please use our guide to determine which application you are eligible to use. sba form 3508 | sba form 3508 | sba form 3508ez | sba form 3508-d | sba form 3508s 01/21 | sba form 3508 05/20 | sba form 3508d | sba form 35082 | sba form 3508. Prior to January 19, 2021, the SBA permitted PPP borrowers to use one of three loan forgiveness applications, including Form 3508 (the "Full Application"), Form 3508EZ (the "EZ Application") and Form 3508S (the "Simple Application"). Required … Once the application is available, you can access it through Wells Fargo Business Online ® , or the Commercial Electronic Office. All other borrowers must use the SBA Form 3508 or lender. We encourage you to review this form and the specific guidelines outlined by SBA. SBA Form 3508EZ. To determine if you are able to use the EZ application, you should review the Checklist for Using SBA Form 3508EZ on the SBA’s website. On Wednesday of this week, the Small Business Administration (SBA) released a revised, and. 3508 EZ Form, select one of three follow criteria: Sole Proprietor with no Employees CERTIFY Did not reduce wages more than 25% AND unable to operate due to requirements from HHS, CDC, or OSHA. If your loan amount is $150,000 or less, please use SBA Form 3508S. The SBA 3508 EZ and SBA 3508 S are the most straightforward to fill out but are harder to meet. Option 1: Third-party payroll service provider reports. This is an education overview of the information as we understand it currently. 3508 Schedule A 1 - 8 Week 3508 Schedule A 1 - 24 Week. Form 3508S. The SBA requires borrowers using Form 3508 and Form 3508 EZ - to submit documentation in connection with their loan forgiveness application. Office: 425-454-7990 FAX: 425-454-7742 Toll Free: 800-876-6931 Email: [email protected] (Optional) Click CHECK YOUR EZ FORM ELIGIBILITY a. Ppp loan forgiveness calculation form. Allegiance Bank recommends that you confirm the information required for submission by reviewing the instructions provided by the SBA, which can be found. These changes are intended to make the application process easier on borrowers and to increase efficiency for lenders and borrowers alike. SBA is re-launching this program for eligible applicants that did not receive a PPP loan prior to August 8, 2020. Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period. gov phone number. We will cover Form 3508 (long form) and 3508EZ. information requested should be sent to Small Business Administration, Director, Records Management Division, 409 3rd St. The SBA has released the new PPP Loan Forgiveness Application Form 3508EZ, which is designed to streamline PPP forgiveness for certain businesses who qualify. The SBA also made borrower-friendly revisions to the full forgiveness application. Additionally, the SBA released Form 3508EZ, PPP Loan Forgiveness Application Form, a streamlined version of the application for borrowers meeting the criterion set forth below. ERTC Update: Every Small Business Should Qualify [Employee Retention Tax Credit] Form 7200 Form 941. 3 United States Secretary of the Treasury 0. Important note: Clients with loans of $150,000 or less should not typically be required to upload additional documentation, except if you also received a second-draw loan. To do: Download and complete the EZ Form Calculator. 4506-t march 2020. The SBA, in conjunction with the Treasury Department, has also rolled out Form 3508-EZ. By default, PPP borrowers should use its lender's version of the Forgiveness Application on SBA Form 3508. Form 3508 or Lender's equivalent form; 4) confirm that the borrower made the calculation on Line 10 of the SBA Form 3508 or Lender's equivalent form correctly, by dividing the borrower's Eligible Payroll Costs claimed on Line 1 by 0. El formulario 3508 y el inesperado nuevo formulario 3508EZ. SBA is hosting free webinars to gain an overview of the application process and key information that you will need to prepare and submit with the PPP Forgiveness application to your SBA lender. Which one should you fill out? Brendan will walk you through which form applies to you and how. Yesterday the SBA released the new Form 3508S (you can remember the new Form by the poem shown at the end of this article), together with an interim final rule, which is a very nice surprise for. 3508 form - etgi. , SW, Washington DC 20416, and/or SBA Desk Officer, Office of Management and Budget, New Executive Office Building, Washington DC 20503. Thank goodness, there is a new "EZ" short form for borrowers who meet certain criteria. Can use the Revised Loan Forgiveness Form. SBA Loan Application. Second you either restored all FTE’s OR could not restore FTE’s due to COVID-19 restrictions. Follow PPP Loan Forgiveness: Step-By-Step Guide - Form 3508 to fill out that form. Instructions: SBA FORM 3508 Paycheck Protection Program Loan Forgiveness Application Version June 16,. SBA Form 3508EZ if your PPP loan amount is more than $150,000 and you can check at least one of the two boxes below. List of cash compensation paid to each employee during the covered period. Sole proprietor/under 150 K/solo employee etc. Each PPP loan must use a separate loan forgiveness application form. The SBA also made borrower-friendly revisions to the full forgiveness application. For those using SBA Form 3508EZ, including sole proprietors and independent contractors, refer to our. Determine Eligibility for Form 3508 EZ. The SBA announced a new Form 3508 EZ for certain PPP borrowers to use to apply for forgiveness. Can use the Revised Loan Forgiveness Form. PPP Loan Forgiveness Application Form 3508EZ Revised January 19, 2021 SBA Form 3508EZ (01/21) Page 1. In addition to the 3508S form, the Bank is able to accept additional completed applications for PPP forgiveness with forms 3508 or 3508EZ. You (the Borrower) can apply for forgiveness of your First or Second Draw Paycheck Protection Program (PPP) Loan using this SBA Form 3508EZ if your PPP loan amount is more than $150,000 and you can check at least one of the two boxes below. PLEASE NOTE: There are three options for the PPP Loan Forgiveness, Form 3508, Form 3508S (loans of $150,000 or less) or Form 3508 EZ (to use Form 3508EZ, borrowers must meet the criteria detailed in "Instructions for Form 3508 EZ"). The SBA also released a PPP Loan Forgiveness Application Form 3508EZ (EZ Form) for certain PPP borrowers to use, if eligible. pdf) #2 PPP Loan Forgiveness Tracking Template (. 5 million borrowers representing 85% of initial Paycheck Protection Program (PPP) loans now are eligible to request forgiveness. The EZ Form is essentially a streamlined version of the traditional loan forgiveness application. Use the data from 3508 Schedule A 1 - 8 Week if you are using the 8 week period; Use the data from 3508 Schedule A 1 - 24 Week if you are using the 24 week period. Submit the items mentioned above to [email protected] By taking this course, tax professionals will learn all the definitions used in applying for a PPP loan and applying for forgiveness. the regular forgiveness application? Borrowers need to self-certify that they hit one of three criteria in order to qualify to use the 3805 EZ form. First, you have not have reduced compensation for any employee by more than 25%. Please note that this site's privacy policy and security practices may differ from Midland States Bank's. Information about eligibility for the 3508EZ form is provided in the Help Box to the right. Yesterday, the U. We know you preferred to use 3508 S or EZ but SBA’s West Virginia District Offices is here to make the long PPP forgiveness form easy for you to understand. On January 19, 2021, the SBA released this new form. Form 3508S is for PPP borrowers with first or second draw loan amounts of $150,000 or less. October 9, 2020. El formulario 3508 y el inesperado nuevo formulario 3508EZ. FORM 3508 INSTRUCTIONS. Watch Queue Queue. Washington Small Business Development Center. Example: If your payroll expenses for the 24-week period equal $60,000, your loan forgiveness cannot exceed $100,000. If a borrower does not fall into one of these categories, the borrower must use the longer SBA Form 3508. Table 2 How it looks on the form: List each employee, not including independent contractors, self-employed, partners and. pdf) #2 PPP Loan Forgiveness Tracking Template (. New PPP Form 3508 (Page 1) Answers to Some of the More Common PPP Loan Forgiveness Questions SBA Adds Another Simplified Forgiveness Method, Form 3508S for PPP Loans of $50K or Less. It was created based on guidance provide d by the SBA in effect at the time of its creation. 1/19/21) SBA Form 3508S & Instructions (Rev. If you’re claiming the following eligible Payroll and Nonpayroll expenses on your PPP Forgiveness application, please upload the required documents after. Please carefully review the regulations below to see if you qualify to apply with the EZ form. Please use this EZ Form Checklist to determine which. EMPLOYEE S AT A SPECIFIC TIME To get employees at time of loan application and forgiveness application, run the PPP FTE. We will cover Form 3508 (long form) and 3508EZ. Questions on the Paycheck Protection Program may be directed to the Lender Relations Specialist in the local SBA Field Office. : 3245-0407 Expiration Date: 7/31/2021. This simplified version provides some level of relief to borrowers as it does not require the use of more. Payroll Documentation (include all of the following for each application): 1. Thank goodness, there is a new “EZ” short form for borrowers who meet certain criteria. Take a Look at SBA's New 'EZ' Loan Forgiveness Application The new form is designed to make applying for Paycheck Protection Plan loan forgiveness less onerous. The SBA, in conjunction with the Treasury Department, has also rolled out Form 3508-EZ. 3508EZ QUALIFYING FORM PPP BORROWER NAME: Does the borrower qualify to use the 3508 EZ? (One section must apply to use the 3508EZ) (If none of these apply you need to use form 3508. PLEASE DO NOT SEND FORMS TO THESE ADDRESSES. SBA Form 3508 (06/20) Page1. New PPP Form 3508 (Page 1) Answers to Some of the More Common PPP Loan Forgiveness Questions SBA Adds Another Simplified Forgiveness Method, Form 3508S for PPP Loans of $50K or Less. SMALL BUSINESS ADMINISTRATION (DC) pdf forms for free. If you are a Schedule C, Schedule F, or a General Partner and have. Box 445 Portland, ME 04112-0445 +207. Great choice for: Short-term working capital financing needs. When To Use The Regular 3508 Form. The SBA has issued three application forms for PPP Loan Forgiveness: 3508S Loan Forgiveness Simplified Form: two page forgiveness application for borrowers who received a PPP loan of $150,000 or less. Instructions and forgiveness applications can be accessed through the below links. Business Legal Name ("Borrower") DBA or Tradename , if applicable. Form 3508 Documentation Definitions 2 General Documentation Guidance 9 Checklist of Required Documentation That Must Be Provided 11 FirstBank is providing this general information as a courtesy to assist you in requesting forgiveness from the SBA for your loan and should not be construed as tax or legal advice. Schaben/Los Angeles Times via Getty Images) Los Angeles Times via Getty Images New EZ Application. Each loan has a corresponding E-tran number. SBA Form 3508EZ. Please use this EZ Form Checklist to determine which. PPP Loan Forgiveness Application Form 3508EZ Revised January 19, 2021 SBA Form 3508EZ (01/21) Page 1. The SBA has published detailed instructions for SBA Form 3508 and SBA Form 3508EZ. SBA PPP Loan Forgiveness Documents | Town and Country Bank (1 days ago) Documentation List for SBA Form 3508-EZ. The Paycheck Protection Program established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury. You can use the EZ form if you meet two criteria. OMB Control No. This is your forgiveness amount. SBA Form 3508 EZ - Default in Numerated. The SBA has reserved the right to review any loan at any time. ppp loan forgiveness schedule a worksheet excel. If your loan is greater than $50,000 and EITHER (a) OR (b) below is true, you should use Form 3508EZ and follow our PPP Forgiveness Step-by-Step for Form 3508EZ: a. Consider effects of different covered periods, the safe harbor and exemptions that may allow you to qualify for Form EZ. These applicants now have the ability to apply for a PPP First Draw Loan before March 31, 2021. The SBA came out with a new 3-page 'EZ' application Form 3508 EZ, and instructions that applies to the following borrower: If all of these situations don't apply, you must use SBA Form 3508. This list reflects requirements for SBA Form 3508. If you meet the requirements, you can proceed by obtaining the following 2 items from the payroll software and filling in the rest of the items you have outside the payroll software. Business Legal Name ("Borrower") DBA or Tradename , if applicable. The program was created specifically for people who have been rejected for a loan by some loan companies as a consequence of prior financial problems. See Question #10 for where you can find these documents. The SBA Loan Forgiveness Platform REST APIs return either 200 (OK) , 201 (Created) or 204 when an API request successfully runs to completion. : 3245-0407 Expiration Date: 7/31/2021. Form 3508 will be generated for clients whose loan does not qualify to use Form 3508S or 3508EZ. Recently, GrowthLab provided you with the 5 steps necessary to complete your PPP Loan Forgiveness Application (Form 3508). Your submitted application will be reviewed by Meridian Bank for completion and accuracy. gov targeted advance. For customers that have received an SBA PPP loan from Bank of Brodhead in 2021, we will be utilizing an online portal for the preparation of the SBA Application for Forgiveness (SBA Form 3508, 3508 EZ, and 3508S) as well as for uploading of supporting expense documentation. - You are not required to complete Form 3508EZ or 3508 before starting your online Forgiveness request. SBA Form 3508 (06/20) Page1. If none of those forms are right for you, you'll have to fill out the standard, five-page Form 3508. by the Small Business Administration (SBA) and provides short-term financial assistance to small businesses to manage the economic impact as a result of the COVID-19 pandemic. 6 PAYCHECK PROTECTION PROGRAM (PPP) How to Apply for Forgiveness: - Complete SBA Form 3508, Loan Forgiveness Calculation Form and PPP Schedule A - Submit paper or electronic forms to your Lender (or the Lender that is servicing your loan) according to Lender’s instructions SBA Loan application has four (4) components: 1. Allegiance Bank recommends that you confirm the information required for submission by reviewing the instructions provided by the SBA, which can be found. Loan Application Supporting Docs (Payroll) SBA Form 2484. SBA Form 3509 (Paycheck Protection Program Loan Necessity Questionnaire – For Profit Borrower) SBA Form 3510 (Paycheck. Please refer to the following for clarification: The new Form 3508S is only used for loans under $150,000*. Small Business Administration (SBA) posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020. SBA Loan Forgiveness Platform - API HTTP Response Codes. 3508 Ez Form PPP – Just in case you need immediate loan endorsement, the PPI loan forgiveness program is a great way to get cash you will need immediately. Forgiveness Application. A borrower that is eligible to use SBA Form 3508S, but applied for loan forgiveness using PPP Loan Forgiveness Application Form 3508EZ or 3508, may resubmit its loan forgiveness application to its lender using SBA Form 3508S at any time until the SBA notifies the lender of a final SBA loan review decision or remits to the lender the PPP loan. Established by the US Small Business Administration, this unique program allows loans to be forgiven, provided the funds are used in a requisite manner. The Small Business Administration (SBA) has rolled out Form 3508S, which provides automatic forgiveness for nearly 70 percent of the paycheck protection program (PPP) borrowers who have loans under $50,000. Washington Small Business Development Center. OMB Control No. [email protected] SBA Form 3508 EZ - Default in Numerated. ; SBA 3508 EZ Form - Shortened form for loans over $150M that did not experience a wage reduction or FTE reduction. EZ Form Calculator overview This is the EZ Form Calculator. All forms are printable and downloadable. FORM 3508 - EZ PPP LOAN FORGIVENESS APPLICATION INSTRUCTIONS. SBA be made available. Small businesses using Form 3508 should make sure to use the newer form tagged with “06/20. If you missed our webinar with the @SBA_MA last week, you can still watch the. Average FTE Paycheck Protection Program. Navigating Your SBA PPP Loan EZ Form 3508 EZ Form 3508 Instructions Form 3508 Form 3508 Instructions Forgiveness Changes – Update June 2020. If you are a Schedule C, Schedule F, or a General Partner and have. These changes are intended to make the application process easier on borrowers and to increase efficiency for lenders and borrowers alike. SBA PPP website. For customers that have received an SBA PPP loan from Bank of Brodhead in 2021, we will be utilizing an online portal for the preparation of the SBA Application for Forgiveness (SBA Form 3508, 3508 EZ, and 3508S) as well as for uploading of supporting expense documentation. EMPLOYEE S AT A SPECIFIC TIME To get employees at time of loan application and forgiveness application, run the PPP FTE. Contact your loan officer with questions. : 3245-0407 Expiration Date: 7/31/2021. Once completed you can sign your fillable form or send for signing. 3508EZ Form Qualification Supporting Documentation If you selected SBA Form 3508EZ and qualify for eligibility option #1, provide documentation supporting the average number of full-time employees on payroll employed January 1, 2020 and at the end of the Covered Period. Small businesses using Form 3508 should make sure to use the newer form tagged with “06/20. Then, she would hope to report an additional $2,725 on Lines 2, 3 & 4 with. Determine which PPP Forgiveness Application to use. Do not submit this Checklist with your SBA Form 3508EZ. In the Checkbox beside Use EZ Form: check the box next to Yes (if eligible): This will adjust the form. - Familiarize yourself with the SBA Loan Forgiveness Form 3508EZ Instructions to understand if you can use Form 3508EZ. The SBA no longer accepts the older forms. Case Study Facts & Assumptions: A though Z & the Kitchen Sink Inc. Form 3508-S is new - one and a half. 2021 PPP Forgiveness Process - COMING June 15, 2021. This list reflects requirements for SBA Form 3508. You can only use the SBA 3508 EZ if you do not maintain any employees. Both the standard form, Form 3508, and the "simplified" form, Form 3508EZ, are available on the Treasury's website, along with instructions. Updated November 11, 2020. SBA Form 3508EZ (01/21) Page 1. See Form 3508 EZ instructions for SPECIFIC eligibility to use this form. SBA Form 3508EZ - PPP Loan Forgiveness Application (NEW) Date: 06/16/20 © 2021 Finn Dixon & Herling LLP, All Rights Reserved. These applicants now have the ability to apply for a PPP First Draw Loan before March 31, 2021. New PPP Loan Forgiveness Form 3508 S To Simplify Forgiveness Process for Small Businesses. Each PPP loan must use a separate loan forgiveness application form. For customers that have received an SBA PPP loan from Bank of Brodhead in 2021, we will be utilizing an online portal for the preparation of the SBA Application for Forgiveness (SBA Form 3508, 3508 EZ, and 3508S) as well as for uploading of supporting expense documentation. PPP Loan Forgiveness Application Form 3508EZ SBA Form 3508EZ (06/20) Page 2 By Signing Below, You Make the Following Representations and Certifications on Behalf of the Borrower: The Authorized Representative of the Borrower certifies to all of the below by initialing next to each one. o Flow chart for which form is best for your organization can be found below. Please fill out the PPP Gross Receipts Summary and provide documentation supporting the numbers on the form. Borrowers who do not meet the requirements for using Form 3508EZ will apply using the updated PPP Loan Forgiveness Application Form 3508. Click CHECK YOUR EZ FORM ELIGIBILTY at the top of the page when you open your application. Business Legal Name (“Borrower”) DBA or Tradename , if applicable Business Address NAICS Code Business TIN (EIN, SSN) Business Phone ( ) - Primary Contact E-mail Address ☐. Act, but there are now signs the ride may be coming to an end. SBA Paycheck Protection Program Nearly 400 financial institutions have relied on our software and services to fund over 138,000 PPP applications under the CARES Act. Required Documents to Submit SBA 3508 Standard Forgiveness Application 2019 Schedule C To support owner's compensation- on the EZ form Checklist, documentation. Form 3508 will be generated for clients whose loan does not qualify to use Form 3508S or 3508EZ. 6/1 - Took a chance and emailed all my state (FL) reps and even the presidents office. Save Saved Removed 0. DA: 31 PA: 83 MOZ Rank: 90 Up or. By Signing Below, You Make the Following Representations and Certifications on Behalf of the Borrower:. FORM 3508S PPP LOAN FORGIVENESS APPLICATION INSTRUCTIONS. The requirements to use the 3508 EZ for all Borrowers are included in the instructions documents provided by the SBA. The latest and simplest form is 3508S and it may be used for loans of $150,000 or less. October 12, 2020. Late last week the Small Business Administration (‘SBA’) issued the Paycheck Protection Program (‘PPP’) Loan Forgiveness Application Form 3508S and instructions for borrowers whose loan is $50,000 or less. For additional information, please refer to the. For the first time in two months, the Top 3 provinces are all under 90%. : 3245-0407 Expiration Date: 7/31/2021. Loan Forgiveness Application Revised June 16, 2020 OMB Control Number 3245-0407 Expiration Date: 10/31/2020 Paycheck Protection Program The authorized representative of the Borrower certifies to all of the below byinitialing next to each one. SBA Form 3508 - PPP Loan Forgiveness Application. : 3245-0407 Paycheck Protection Program Expiration Date: 7/31/2021 PPP Loan Forgiveness Application Form 3508EZ Revised January 19, 2021. Option 1: Third-party payroll service provider reports. Established by the US Small Business Administration, this unique program allows loans to be forgiven, provided the funds are used in a requisite manner. The SBA released Form 3508S on January 19, 2021. The SBA states that borrowers can request Forgiveness only for PPP funds they’ve already spent. Effective Jan 19, 2021. ) The borrower did not. The form itself includes a step-by-step guide to calculating out your loan forgiveness eligibility, including PPP Schedule A, which enables employers to calculate their total payroll and compensation costs. The 3508EZ form is a shorter version. We will include case studies. You (the Borrower) can apply for forgiveness of your First or Second Draw Paycheck Protection Program (PPP) Loan using this SBA Form 3508EZ if your PPP loan amount is more than $150,000 and you can check at least one of the two boxes below. Recently, GrowthLab provided you with the 5 steps necessary to complete your PPP Loan Forgiveness Application (Form 3508). For those using SBA Form 3508 refer to our 3508 forgiveness documentation reference guide. Provide the following for your Covered. On January 19, 2021, the SBA released an updated application Form, 3508S, for requesting forgiveness of PPP loans of $150,000 or less. o Note: The PPP Loan Number and the bank loan number will be the same. DA: 31 PA: 83 MOZ Rank: 90 Up or. If you or your third-party payroll provider has prepared a form that calculates your eligible cash and non-cash payroll costs following SBA requirements, you may submit that form instead of filling out the EZ Form Calculator. To get started on your PPP loan forgiveness application we suggest starting with the PPP Schedule A (Page 3 of SBA Form 3508). South Florida Accounting Services for Individuals and Small Businesses. SBA Form; $150,001 or more: Apply now by requesting a personalized link from [email protected] List of cash compensation paid to each employee during the covered period. On October 12, 2020, the SBA released Loan Forgiveness Application (SBA Form 3508S), a simpler application for Paycheck Protection Program (PPP) loans of $50,000 or less. While provinces are shifting on the Top 3 list, overall, percentages of impact are down. 3508 EZ PPP -- Loan Forgiveness Application and Instructions -- Form 3508EZ (1. 3508 EZ Instructions. SMALL BUSINESS ADMINISTRATION (DC) pdf forms for free. FORM 3508 – EZ PPP LOAN FORGIVENESS APPLICATION INSTRUCTIONS. The SBA is offering help with forgiveness applications through many of their SBA district offices, Small Business Development Centers and SCORE Business Mentor programs. All other borrowers must use the SBA Form 3508 or lender. If using the full 3508 form, complete the PPP Schedule A Worksheet first before starting your Forgiveness request with Chase. For additional information, please refer to the. Established by the US Small Business Administration, this unique program allows loans to be forgiven, provided the funds are used in a requisite manner. Location: 130 Middle Street, 3rd Floor Portland, ME 04101; Mailing Address: P. " An Even Easier Form. Do not submit this Checklist with your SBA Form 3508EZ. You can use the EZ form if you meet two criteria. Box 445 Portland, ME 04112-0445 +207. Paycheck Protection Program (PPP) EZ Loan Forgiveness Application Form. or 3508 form. Option 1: Third-party payroll service provider reports. Attend the CPE webinar on the latest update of #PPPFA : [https://bit. 5 months worth (2. For customers that have received an SBA PPP loan from Bank of Brodhead in 2021, we will be utilizing an online portal for the preparation of the SBA Application for Forgiveness (SBA Form 3508, 3508 EZ, and 3508S) as well as for uploading of supporting expense documentation. Each PPP loan must use a separate loan forgiveness application form. SBA PPP Loan Forgiveness Documents | Town and Country Bank (1 days ago) Documentation List for SBA Form 3508-EZ. ly/2NamWM2] in which the Small Business Administration (SBA) released June 16 revised versions of SBA Form 3508, Paycheck Protection Program Loan Forgiveness Application, and its instructions, which were updated to conform with provisions of the Paycheck Protection Program Flexibility Act (PPPFA). it 3508 form. 3508 form - etgi. PPP Loan Forgiveness Application “Standard” Form (SBA Form 3508) PPP Loan Forgiveness Application “EZ” Form (SBA 3508EZ) 3. ; Form 3508-EZ: A simpler application form for forgiveness for borrowers who meet specific safe harbor conditions. As lawyers. Which form should I use to complete my application ? a. SBA Loan Application. Source: www. Do not submit this Checklist with your SBA Form 3508EZ. All other borrowers must use the SBA Form 3508 or lender equivalent. Form 3508 is the general form to be used by borrowers that do not qualify for Form 3508EZ or 3508S. Form 3508 -Standard If you can't use the EZ Form, you will need to fill in the Standard Form. The program was created particularly for people who have been unapproved to get a loan by some loan companies as a result of prior financial issues. Determine which forgiveness form you will use by reviewing the