Online Job Typing Ppp Loan Forgiveness Application Ez Vs Regular

The ppp loan program restarted following the appropriation of new funding on friday april 24 2020.

Online job profile ppp forgiveness application requirements. Paycheck protection program ppp ez loan forgiveness application form. Otherwise payroll costs must be paid during the covered period or alternative payroll covered period. 8 tips and warnings on ppp loan forgiveness not having to pay back paycheck protection program loans is a huge benefit for small business owners.

But there are a lot of rules that must be followed. While applying for forgiveness may still seem daunting even with this simper form the ez form requires fewer calculations and less documentation for eligible borrowers. The sba has released the new ppp loan forgiveness application form 3508ez which is designed to streamline ppp forgiveness for certain businesses who qualify.

Three months after the launch of the paycheck protection program ppp many business owners are looking towards their ppp loan forgiveness applicationsthe small business administration sba recently released a new loan forgiveness application along with a simplified ez applicationthough the sba continues to issue updated guidance we finally have most of the information we need to move. The streamlined forgiveness form is expected to smooth the forgiveness application process for a substantial portion of ppp borrowers. The ez form still requires the borrower to do calculations provide documentation but not as much as compared to the full form and certification.

Ppp loan forgiveness application form 3508ez. Sba form 3508ez 0620. For forgiveness if paid on or before the next regular payroll date.

Ppp loans are available for the lesser of 10 million or 25 times your average monthly payroll. Sba also updated the regular form 3508 to reflect recent changes made by congress in the ppp flexibility act and issued a new interim final rule that implements changes made by the pppfa. Loan forgiveness application revised june 16 2020 omb control number 3245 0407 expiration date.

Ppp loan forgiveness calculation form business legal name borrower dba or tradename if applicable business address business tin ein ssn business phone primary contact e mail address. The small business administration recently released a paycheck protection program loan forgiveness application form 3508ez ez form for certain ppp borrowers to use if eligible.