252. PPP Forgiveness Application SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application.
If you applied for PPP you should know that all rules have been continuously updated with the last update 5-13-2020.
- DO NOT assume the forms are up to date with the rules.
- DO NOT think for a minute that Form 3508 can not be updated via SBA SOP.
This is how the agency operates. I would suggest you review all FAQ's and all documents you haven't read before filing your forgiveness application that is very straight forward.
Word of caution, I found several online websites claiming to be offering the form on their websites to complete and download. If you know the website owner and have him or her over for pizza and movie nights then you can trust them with the form. Otherwise I strongly suggest you buy a printer, complete the forms, sign them and email, US Postal Mail and Fax them to the SBA or as they instruct in their Form 3508 instructions published under the For Borrowers category.
- More information (3/31/2020)
- Search Tool: Find an Eligible Lender
- Borrower Application Form (4/2/20)
- Applicable Affiliation Rules
- How to Calculate Loan Amounts
- Loan Forgiveness Application
- Frequently Asked Questions (5/13/2020)
- Interim Final Rule 1 (originally posted April 2, 2020)
- Interim Final Rule on Applicable Affiliation Rules (originally posted 4/3/2020)
- Interim Final Rule on Additional Eligibility Criteria and Requirements for Certain Pledges of Loans (originally posted 4/14/2020)
- Interim Final Rule on Requirements for Promissory Notes, Authorizations, Affiliation, and Eligibility (originally posted 4/24/2020)
- Interim Final Rule Additional Criterion for Seasonal Employers (originally posted 4/27/2020)
- Interim Final Rule on Disbursements (originally posted 4/28/2020)
- Interim Final Rule on Corporate Groups and Non-Bank and Non-Insured Depository Institution Lenders (originally posted 4/30/2020)
- Interim Final Rule on Nondiscrimination and Additional Eligibility Criteria (originally posted 5/5/2020)
- Interim Final Rule on Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan Request (5/8/2020)
- Interim Final Rule on Loan Increases (5/13/2020)
- Interim Final Rule on Eligibility of Certain Electric Cooperatives (5/14/2020)
What I have posted changes often, even today's US Treasury page is missing an update to Seasonal Partnerships PPP loan amounts published on 5-15-2020 in the FAQ's.
The links I posted are valid but I also suggest using the original source which can be found here.
My SBA Disaster Recovery Loan group on Facebook has the discussion at this link:
- FORGIVENESS APP: SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application
Resources are US Treasury and SBA.