Is your PPP Loan $150,000 or less? If so, you qualify for the new simple forgiveness Application 3508s!
Great news, on March 5th, 2021 we launched the new forms for forgiveness.
For loans $150,000 or less, your loan qualifies for the new Form 3508S. The Revised Form 3508S is a one-page attestation that removes the requirement to submit documentation to us for your forgiveness application.
For loans >$150,000, our portal has been updated to incorporate the new eligible expenses and you will see this in your journey starting Friday, March 5th.
If your application is in “Started Application” status, please use the back arrows to go to the start of the journey and then navigate forward to see the new forms.
Note, your application is NOT due until ~16 months (24 weeks + 10 months) from the disbursement date of your PPP loan. For example, if you received your loan on 4/1/2020, you need to apply by 10/1/2021.
Additionally, there is no requirement to get forgiveness on your first draw to get a second draw PPP loan.
Please refer to our PPP Forgiveness Guide. This guide was designed to help you navigate the portal, answer frequently asked questions, and troubleshoot recurring themes. We encourage all PPP loan forgiveness applicants to always have Your PPP Forgiveness Guide readily available during your application process.