Ppp Loan Forgiveness Worksheet Ez

Paycheck protection program ppp ez loan forgiveness application form.

Ppp loan forgiveness worksheet ez. Paycheck protection program ppp loan forgiveness estimator if you received a paycheck protection program loan you must apply for loan forgiveness with the same lender that issued the loan and you do not have to wait until the loan s maturity date to submit an application. Employee must have been employed during the covered period and have a u s. Ppp loan forgiveness application form 3508ez sba form 3508ez 06 20 page 3 line 3 enter the amount of business rent or lease payments paid or incurred for real or personal property during the covered period pursuant to lease agreements in force before february 15 2020. Download the ppp forgiveness calculator form 3508.

The borrower s eligibility for loan forgiveness will be evaluated in accordance with the ppp regulations and guidance issued by sba through the date of this application. Loans disbursed after june 5th 2020 have a 24 week covered period. Sba may direct a lender to disapprove the borrower s loan forgiveness application if sba determines that the borrower was ineligible for the ppp loan. A checklist for borrowers to determine if they can apply for forgiveness of ppp loans using sba form 3508ez updated 11 30 20 with new expiration date if you can check at least one of the form s three boxes submit it to your lender or the lender that is servicing your loan.

The first date should be the date of loan disbursement and then count eight or 24 weeks from there for the second date. Ppp loans prior to june 5th 2020 cover an eight week forgiveness period. Here s how to fill out the simplified sba form 3508ez. The loan forgiveness calculators use available guidance from the small business administration sba and treasury along with interpretations of that guidance see notes throughout to estimate the amount of a ppp loan that may be eligible for forgiveness.

For loan amounts less than 50 000 you can use the new form 3508s released on october 8. New ez application and revisions to the full forgiveness application the sba in consultation with the department of the treasury announced a brand new form 3508ez for certain ppp borrowers to use.