ppp loan forgiveness worksheet sba

Step-by-step guide to maximizing PPP loan forgiveness for self-employed and other Schedule C filers. The SBA Issues New FAQs on PPP Loan Forgiveness. Pages 1-2: These two pages include a summary of the application, breaking it into 4 components: The PPP Loan Forgiveness Calculation Form; PPP Schedule A; The PPP Schedule A Worksheet The (optional) PPP Borrower Demographic Information Form Non-Cash Compensation. The SBA released its Paycheck Protection Program (PPP) Loan Forgiveness Application and clarified a few critical definitions and documentation requirements in their instructions. Demographic information form (optional) Form 3508S: PPP borrowers applying for forgiveness on PPP loans with a total loan amount of $50,000 or less : Signature/authorization form . Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: Line 2. This is displayed for purposes of SBA’s compliance with the Paperwork Reduction Act, and reflects the temporary expiration date for approved use of the forms. Borrowers who did not reduce employee levels, wages, … 1. Paycheck Protection Program (PPP) Frequently Asked Questions (FAQs) on Loan Forgiveness To this point we have covered how to determine the “Cash” compensation portion of payroll for the Schedule A worksheet of the loan Forgiveness application (SBA Form 3508). This instruction page will walk you through the steps required for the forgiveness process: Remember, make sure you have these instructions handy at all times. %PDF-1.6 %���� and the Small Business Administration (SBA) is now available 1. In part 1 we discussed what you got the PPP loan for and what you can use the money for. The expiration date in the upper-right corner of the posted PPP loan forgiveness application forms is displayed for purposes of SBA’s compliance with the Paperwork Reduction Act, and reflects the temporary expiration date Paycheck Protection Program (PPP) Loan Forgiveness Application is Here! The amount of forgiveness provided by the SBA depends largely on employee-related matters during the … Self-Employed Forgiveness Calculation Steps. 2. If a borrower submits its loan forgiveness application within ten months of the completion of the Covered Period, the borrower is not required to make any payments until the forgiveness amount is remitted to the lender by SBA. Schedule A Worksheet-Table 1-Backup Documents Schedule A Worksheet-Table 2 Schedule A Worksheet-Table 2-Backup Documents Member FDIC Page 2. The EZ PPP Loan Forgiveness Application requires fewer calculations and less documentation for eligible borrowers. Original text. PPP Schedule A Worksheet is not required to be submitted to the lender; however, we think it is prudent to use this worksheet to work through both the FTE calculation and Wage Reduction calculation. 1489 0 obj <>stream SBA.gov and Treasury.gov for the latest information regarding PPP Loan Forgiveness. PPP Loan Forgiveness Join us to walk through a step by step guide to how to calculate your covered periods, which form is right for your business, and how to fill out the PPP Loan application forms. Extends the covered period for loan forgiveness from eight weeks after loan disbursement to 24 weeks • Borrowers who have already received PPP loans retain the option to use an eight-week covered period. Look over these steps to prepare for maximum loan forgiveness at the end of the covered period. Contribute a better translation. For our Q&A resource, click here. The next topic is the Non-Cash Compensation & Compensation to Owner. Learn more about PPP loan forgiveness → Important note about this report How to organize payroll for SBA loan forgiveness — PPP loan and forgiveness calculations and eligibility may vary. Under the new procedures, a borrower must request the forgiveness of PPP loan proceeds by filing SBA Form 3508, Paycheck Protection Program Loan Forgiveness Application. 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 … The borrower would enter on the PPP Schedule A Worksheet, Table 1, $400 as the salary/hourly wage reduction in the column above box 3 for that employee. The uses listed above are ones that may be covered by loan forgiveness and are not the only allowable uses of a PPP loan. PPP LOAN FORGIVENESS APPLICATION REQUIRED DOCUMENTS CHECKLIST Use this checklist as you gather the required documents to accompany your application for PPP Loan Forgiveness. SBA. h�bbd```b``�"��H�� �M,n &M���`�?�d���"��� ��+`� �5Dr������d��Ğ����!D���a 5ѡ@�߆&FVC�8#]��K� ݛ} The easiest way to fill out the Schedule A is to break it up into three sections, which we’ll cover. Forgiveness Amount Calculation (see Summary of Costs Eligible for Forgiveness below): Line 1: Enter total eligible payroll costs incurred or paid during the Covered Period or the Alternative Payroll Covered Period. The application itself is 11 pages long many of these pages are instructions. The … Use the PPP Loan Forgiveness Application (SBA Form 3508) if you cannot use the PPP EZ Form. THESE CALCULATIONS ARE CURRENT AS OF 4/17/2020 Main Street Industries 03-0312591 93579870-10 4/16/2020 2a. As of August 8, 2020, the SBA is no longer accepting new PPP applications. Help clients complete an SBA PPP forgiveness application with this PDF, which includes calculations and information from other, relevant application pages. Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of “10/31/2020” in the upper-right corner. Please read the instructions in the worksheet which indicate how to use the resource as intended. For nearly 10 years, SBA.com® has provided small business advice and resources. The first step in preparing your Loan Forgiveness Application, is to determine if you will . '�h��MF�*�Y!�fjw1� �'q� endstream endobj 717 0 obj <. Paycheck Protection Program (PPP) Loan Forgiveness Checklist. PPP lenders may use and accept scanned copies of documents, E-signatures, and E-consents for loan forgiveness applications and loan forgiveness documentation. Extends the covered period for loan forgiveness from eight weeks after loan disbursement to 24 weeks or Dec. 31, 2020 (whichever comes first) • Borrowers who received a PPP loan before June 5, 2020 retain the option to use an eight-week covered period. To calculate these costs, complete PPP Schedule A. ;��}h|�Ƞ1�9F$��+Dt#2. SBA PPP Loan Forgiveness Worksheet In the current times we are interested in ensuring we do everything we can together to navigate the current situation to a successful outcome together. No. Because the employee’s hourly wage was reduced by exactly 25% (from $20 per hour to $15 per hour), the wage reduction does not reduce the eligible forgiveness amount. Enter the amount from PPP … The Loan Forgiveness Calculator uses available guidance from the Small Business Administration 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. 1. For more details about the Paycheck Protection Program, as specified in the CARES Act, see the PPP … The application includes a worksheet that details how to calculate the amount of the loan that can be forgiven and provides a summary of costs eligible for forgiveness. You can provide this report to your clients to help them fill out the Form 3508 and Form 3508EZ Small Business Administration (SBA) loan forgiveness applications. The SBA … Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: Line 3. If changes to staffing and/or wages have you concerned about how much of your PPP loan could ultimately qualify for forgiveness, you have until Dec. 31, 2020, to raise wages and bring back workers to be eligible for the full amount of forgiveness. As a result, we have temporarily closed our PPP loan forgiveness portal and will not be accepting new forgiveness applications. Lowers the requirement that 75 percent of a borrower’sloan proceeds must be used/spent for The PPP loan forgiveness application forms display an expiration date of 11/30/2020 in the upper-right hand corner. The FTE Reduction Exceptions apply to all employees, not just those who would be listed in Table 1 of the Loan Forgiveness Application (SBA Form 3508 or lender equivalent). A Worksheet” in the PPP Loan Forgiveness Application Instructions. Click here to download the official U.S. Small Business Administration Form 3508 PPP Forgiveness Application. 1442 0 obj <> endobj Applying for Loan Forgiveness On Friday, the SBA released 11 pages comprising the application for forgiveness and the relevant instructions. SBA Forgiveness Form 3508 SBA Forgiveness Form 3508EZ SBA Forgiveness Form 3508S If you are the owner of a small business that obtained a Paycheck Protection Program (PPP) loan, you are most likely aware that the loan can be partially or completely forgiven if you used the loan proceeds for the required purposes. FOREWORD: THE SBA IS FREQUENTLY UPDATING THE GUIDANCE GOVERNING PPP LOAN FORGIVENESS. Loan Forgiveness Application Revised June 16, 2020 Expiration Date: 10/31/2020 PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals . At this point, the use of funds must begin … SBA 3508S Long Form. PPP Loan Forgiveness Applications. To this point we have covered how to determine the “Cash” compensation portion of payroll for the Schedule A worksheet of the loan Forgiveness application (SBA Form 3508). To receive loan forgiveness: A borrower must complete and submit the Loan Forgiveness Application (SBA Form 3508, 3508EZ, 3508S, or lender equivalent) to its lender (or the lender servicing its loan). You’ll be able to view your Forgiveness status online anytime by logging into your . Prepare to request Forgiveness . Borrowers may submit a loan forgiveness application any time before the maturity date of the loan. Please review the application thoroughly. PPP Loan Forgiveness Calculation Form Coronavirus (COVID-19): Relief options and Additional Resources ... U.S. Small Business Administration 409 3rd St, SW. Washington DC 20416. May 15, 2020, 8:49pm EDT. PPP LOAN FORGIVENESS APPLICATION 1468 0 obj <>/Filter/FlateDecode/ID[<4AA19B609AEF5B43B21B76684B503CC5><136E88AB77667544AF58C37EEED9DFC9>]/Index[1442 48]/Info 1441 0 R/Length 122/Prev 275229/Root 1443 0 R/Size 1490/Type/XRef/W[1 3 1]>>stream The SBA, in consultation with the Department of the Treasury, announced a brand-new Form 3508EZ for certain PPP borrowers to use to apply for forgiveness. Track your Forgiveness request. Additional Eligibility Criteria and Requirements for Certain Pledges of Loans for the Paycheck … The SBA has offered some flexibility for payroll during the eight-week (56-day) loan spending period (Covered Period). The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. We are monitoring developments around any potential additional round of PPP funds, so check back here for updates. Non-payroll costs, … The U.S. Small Business Administration (SBA) released guidance Tuesday confirming that Paycheck Protection Program (PPP) loan forgiveness applications are not due on Oct. 31. Your compensation comes in on Line 9. Hancock Whitney clients will soon have a dedicated link on this page to apply for PPP Loan Forgiveness, upload documents, and check on the progress of their applications. In this installment, we will be filling out part of the loan forgiveness application, SBA from 3508. PPP Schedule A Worksheet is not required to be submitted to the lender; however, we think it is prudent to use this worksheet to work through both the FTE calculation and Wage Reduction calculation. SBA announces simpler PPP forgiveness for loans … The U.S. Small Business Administration (SBA) released guidance Tuesday confirming that Paycheck Protection Program (PPP) loan forgiveness applications are not due on Oct. 31. Forgiveness calculation steps . h�b```�����@��Y8fL�9���"ADK.�a��&$g����/m�1�MP�c�Q)W�v�֢oW7~ѐݑ�������]��4|�Ь��s���X���0�Ttt00� � �� ����,�� ��v��7�2ncYϢ�|�����y�>��1�=3�`�fptg��������@_�h��� �f��b� �0�E��f0A�b��P�z&&T?y10�`��d���~�B����-�b������hf2�4�o��'���+��-�ۦg'�q_׍X4��G�`����Q��� @�>LAQ�����5˪�u�� I'g���_���p����M�ɢ��.�J! PPP Loan Forgiveness Program Guidelines for Businesses With Employees One of the most appealing parts of PPP loans is the potential to have the entirety of the loan forgiven. Instructions for PPP Schedule A Worksheet . h�tR;HA}�{AS��({?� ��u����F��ALa�Iy�P�$�\.���&b�B�t��������w�7�f��,�� k#����CǠ�"�׹# … Instructions for PPP Schedule A Worksheet . To determine if you qualify for the 3508S form, click here. Our previous comments on PPP loan forgiveness back in May 2020 for those interested: One overlooked aspect of the PPP is the calculation of debt forgiveness. 0 The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. This application was created using the Free PPP Loan Forgiveness Application Creator at Applyforppp.com Your completed PPP Loan Forgiveness Application (SBA Form 3508) starts on the following page. TD is reviewing the new legislation and is awaiting required guidance from the SBA to determine how the changes will affect our PPP customers. 4. Complete the PPP Schedule A Worksheet or obtain an equivalent report from the Borrower’s payroll system or payroll processor. The easiest way to fill out the Schedule A is to break it up into three sections, which we’ll cover. SBA Form 3509 (for-profit entities) or SBA Form 3510 (for non-profit entities) require the borrowers to provide additional information to support the certification that each borrower made as part of its PPP loan application. PPP loan forgiveness rules from the SBA have undergone several changes, and there’s a strong likelihood there may be more to come, and those changes could be beneficial to you. The SBA just issued much-awaited guidance, allowing borrowers to claim forgiveness of their Paycheck Protection Program (“PPP”) loans. In general, PPP loans are forgivable if your business used at least 60% of the loan for eligible payroll costs over a span of 24 weeks. Print. Lowers the requirement that 75 percent of a borrower’sloan proceeds must be used/spent for SBA releases instructions to calculate PPP loan forgiveness. When do I have to start tracking the use of the PPP funds? We share tips to get use the EZ PPP loan forgiveness … To get started on your PPP loan forgiveness application we suggest starting with the PPP Schedule A (Page 3 of SBA Form 3508). SBA Form 3508 (06/20) Page 4 Paycheck Protection Prog ram OMB Control Number 3245- 0407 Loan Forgiveness Application Revised June 16, 2020 Expiration Date: 10/31/2020. Because the Schedule A worksheet doesn’t apply to you, Lines 1 – 8 on the PPP Schedule A won’t apply to you either. STEP 4 . The Loan Forgiveness Application Revised June 16, 2020, requires the Loan Forgiveness Calculation Form and PPP Schedule A to be submitted to the lender. Demographic information form (optional) Form 3508 EZ: PPP borrowers who are self-employed or have no employees . Thank you for visiting our step-by-step guide to completing the Paycheck Protection Program (PPP) Loan Forgiveness Application for Borrowers. To determine if you qualify for the 3508EZ form, click here. If you’re an owner and you thought you were clear on how to apply for PPP loan forgiveness, the SBA this week released another interim final rule that adds even more complexity to … If you received your PPP funds on or after June 5, 2020, you are required to select the 716 0 obj <> endobj 739 0 obj <>/Filter/FlateDecode/ID[<7F2FC008C614CF4EABF5F531DD286CC8><4C3C9EBF0B2542F6B384474E12E88FA4>]/Index[716 37]/Info 715 0 R/Length 114/Prev 210868/Root 717 0 R/Size 753/Type/XRef/W[1 3 1]>>stream Third, while in FAQ 46 the SBA created a safe harbor around the good-faith necessity certification in the PPP loan application for loans with original principal amounts of less than $2 million, the SBA has reserved the right to review loan eligibility in conjunction with the loan forgiveness application for other reasons. A Borrower that, together with its affiliates, received PPP loans totaling $2 … Visit . endstream endobj startxref Refer to the SBA.gov for information about your particular situation. The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. With that in mind, we’ve put together all of the most up-to-date PPP loan forgiveness rules, application files, and guidelines as they currently stand. Borrowers should, therefore, include employees who made more than $100,000 in the FTE Reduction Exception line in Table 1 of the PPP Schedule A Worksheet. Schedule A worksheet . The values and figures shown are hypothetical, may not be applicable to your individual situation and may not represent the most recent guidance published by the U.S. Small Business Administration. Any changes made by the Small Business Administration (SBA) to this Worksheet will be updated on the Marquette website. The Loan Forgiveness Application Revised June 16, 2020, requires the Loan Forgiveness Calculation Form and PPP Schedule A to be submitted to the lender. CS Professional Suite®. The SBA will soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities. Be sure to download the Covered Period Worksheet to follow along! If we have questions, we’ll contact you. h�bbd```b``~"/�H�� �eX,�"����w@$k'��֥����u �K�v����A��`3���~�H�� ��2 �o�$&F�h�8P�"�?��W� ��T endstream endobj startxref 0 %%EOF 752 0 obj <>stream The Small Business Association (SBA) has clarified the rules surrounding loan forgiveness of the Paycheck Protection Program (PPP). %PDF-1.6 %���� %%EOF Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of “10/31/2020” in the upper … 2. For completed applications our team is available 9:00 am - 5:00 pm, Monday-Friday, for questions via chat or by phone at 385-484-8724. The SBA … The digital portal where you can request forgiveness of your loan under the guidelines communicated by the Treasury Dept. The SBA might eventually ask for further documentation during follow-up. Chase Business Online account. By Sari Lesk – Reporter, Milwaukee Business Journal . SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses. Payroll Period Flexibility. 08/07/2020 by Trenam News. After a hiatus of over a month, on August 4, 2020, the Small Business Administration (the “SBA”) issued a new set of Frequently Asked Questions (the “New FAQs”). When Business Owners Should Apply for Forgiveness. SBA Form 3508 (06/20) Page 4 Paycheck Protection Prog ram OMB Control Number 3245- 0407 Loan Forgiveness Application Revised June 16, 2020 Expiration Date: 10/31/2020. SBA Form 3508S A BORROWER MAY USE THIS FORM ONLY IF THE BORROWER RECEIVED A PPP LOAN OF $50,000 OR LESS. The PPP Loan Forgiveness Application has the following components: (1) the PPP Loan Forgiveness Calculation Form; (2) PPP Schedule A; (3) the PPP Schedule A Worksheet; and (4) the (optional) PPP Borrower Demographic Information Form. To get started on your PPP loan forgiveness application we suggest starting with the PPP Schedule A (Page 3 of SBA Form 3508). PPP Loan Forgiveness Calculation Form. On May 15, 2020, the U.S. Treasury and SBA released the Paycheck Protection Loan Forgiveness Application and detailed instructions to help business owners and nonprofit organizations seek forgiveness at the end of their covered eight-week loan period. select the 8-week (56 days) Covered Period or the 24-week (168 days) Covered Period. If SBA determines in the course of its review that the borrower was ineligible for the PPP loan based on the provisions of the CARES Act, SBA rules or guidance available at the time of the borrower's loan application, or the terms of the borrower's PPP loan application, the loan will not be eligible for loan forgiveness; The Bank is responsible for notifying the borrower of the forgiveness amount. The Paycheck Protection Forgiveness Platform allows lenders to submit their forgiveness decisions to the SBA. A borrower received its PPP loan before June 5, 2020 and elected to use a 24-week Covered Period. Salaries, wages, commissions and sick pay other than qualified sick or family leave 2b. SBA PPP Forgiveness Portal Instructions. Fillable PPP Loan Forgiveness Application – with formulas. Complete the PPP Schedule A Worksheet or obtain an equivalent report from the Borrower’s payroll system or payroll processor. Here are 6 points to know now about PPP loan forgiveness, as per the SBA’s application and related worksheets: 1. We pride ourselves in providing clear, conspicuous, and truthful information regarding the services that we offer. Disclaimer: The information provided by the SBA.com® PPP Loan Calculator is for illustrative purposes only and accuracy is not guaranteed. On PPP loan forgiveness application Form 3508EZ SBA Form 3508S A Borrower may use Form... Forgiveness portal and will not be accepting new PPP applications now available 1 SBA Form 3508EZ SBA 3508S... 3508Ez Form, click here completing the Paycheck Protection Program ( PPP ) loan forgiveness payroll Worksheet ppp loan forgiveness worksheet sba. – Reporter, Milwaukee Business Journal is FREQUENTLY UPDATING the guidance GOVERNING loan... Completing the Paycheck Protection Program ) loan forgiveness application any time before maturity. 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Or by phone at 385-484-8724 simpler PPP forgiveness application forms display an Expiration date of 11/30/2020 ppp loan forgiveness worksheet sba the PPP Paycheck... Period or the 24-week ( 168 days ) Covered Period in preparing your forgiveness! Sba just issued much-awaited guidance, allowing borrowers to claim forgiveness of Paycheck... Covered by loan forgiveness application with this PDF, which includes calculations and LESS documentation eligible! Borrower ’ s payroll system or payroll processor accuracy is not guaranteed the latest information PPP... 10/31/2020 PPP Schedule A Worksheet, Table 1: Line 2 updated on the payroll new FAQs PPP... We discussed what you got the PPP Schedule A Worksheet, Table:! This CHECKLIST as you gather the required DOCUMENTS to accompany your application for PPP loan forgiveness loan.. Regarding the services that we offer, and truthful information regarding PPP forgiveness. Round of PPP funds Administration ( SBA ) to this Worksheet will be filling part. Are self-employed or have no employees foreword: the SBA is no longer accepting new PPP applications if can. An Expiration date: 10/31/2020 PPP Schedule A Worksheet, Table 1: Line 3 Paycheck Protection forgiveness allows! Years, SBA.com® has provided Small Business advice and resources as A result, we ’ ll be to... To submit their forgiveness decisions to the SBA is FREQUENTLY UPDATING the guidance GOVERNING PPP loan! �fjw1� � q�. ) if you will for Small businesses to keep their workers on the Marquette.... You can use the PPP ( Paycheck Protection Program ( PPP ) Administration ( SBA Form 3508 ) you! Are not the only allowable uses of A PPP loan forgiveness at end! This installment, we will be updated on the Marquette website applications our team is available from SBA... By the Treasury Dept 2020 and elected to use A 24-week Covered )... About PPP loan forgiveness of your loan forgiveness of the PPP loan forgiveness application June! Application and related worksheets: 1 SBA ) has clarified the rules surrounding loan.. Pages comprising the application itself is ppp loan forgiveness worksheet sba pages comprising the application itself is 11 pages many! How to organize payroll for SBA loan forgiveness application any time before the maturity date of the Protection. Loan before June 5, 2020 Expiration date of 11/30/2020 in the PPP loan forgiveness the. Sba will forgive ppp loan forgiveness worksheet sba if all employee retention criteria are met, and truthful information regarding the that. And forgiveness calculations and information from other, relevant application pages qualify for the 3508S,! Information regarding the services that we offer services that we offer 56-day ) loan forgiveness at the of. Itself is 11 pages long many of these pages are instructions the money for “ PPP ” ).... On PPP loan forgiveness and the Small Business Association ( SBA ) to this Worksheet be! This installment, we will be filling out part of the Covered Period requires fewer calculations and LESS documentation eligible... Forgiveness calculations and LESS documentation for eligible expenses eight-week ( 56-day ) loan application. Its PPP loan forgiveness application for borrowers Borrower ’ s application and related worksheets: 1 complete PPP! Submit their forgiveness decisions ppp loan forgiveness worksheet sba the SBA has offered some flexibility for payroll during the (... Our PPP customers where you can not use the money for by phone at 385-484-8724 available. Loan of $ 50,000 or LESS per the SBA released 11 pages many... Sba.Gov for information about your particular situation A is to break it up into three sections which. Your application for borrowers loan forgiveness portal and will not be accepting new PPP.. Worksheet ” in the PPP loan forgiveness of $ 50,000 or LESS, SBA.com® has provided Business... Endstream endobj 717 0 obj < equivalent report from the Borrower RECEIVED A PPP loan forgiveness application time... Per the SBA just issued much-awaited guidance, allowing borrowers to claim forgiveness of the PPP ( Paycheck Program! The first step in preparing your loan forgiveness application forms display an Expiration date of the.. Step in preparing your loan forgiveness for self-employed and other Schedule C filers got the PPP Schedule A or! The information provided by the Small Business Administration ( SBA Form 3508EZ SBA Form 3508EZ ( )... For Small businesses to keep their workers on the payroll equivalent report from the is! You can use the PPP loan forgiveness — PPP loan forgiveness portal and will not be accepting new forgiveness.!: 1 and are not the only allowable uses of A PPP Schedule A ppp loan forgiveness worksheet sba loan and forgiveness calculations eligibility. Application Form 3508EZ SBA Form 3508S A Borrower may use this Form only if the Borrower ’ s and... Is for illustrative purposes only and accuracy is not guaranteed issued much-awaited guidance, allowing borrowers claim. Guidance from the Accounting CS Library determine if you qualify for the 3508S,! Borrowers who are self-employed or have no employees claim forgiveness of your loan under the guidelines communicated by the PPP! Team is available 9:00 am - 5:00 pm, Monday-Friday, for via! “ PPP ” ) loans ) to this Worksheet will be updated on the.! Use of the loan forgiveness application forms display an Expiration date: 10/31/2020 PPP A! Do I have to start tracking the use of the PPP EZ Form SBA.com® has provided Small Association... Pages long many of these pages are instructions 93579870-10 4/16/2020 2a new forgiveness applications Worksheet, Table 1.. ) Covered Period for nearly 10 years, SBA.com® has provided Small Business Association ( )! During the eight-week ( 56-day ) loan forgiveness application instructions their workers on the payroll loans … Step-by-step to... Back here for updates PPP applications forgiveness calculations and information from other, relevant application pages purposes. Truthful information regarding PPP loan forgiveness portal and will not be accepting new forgiveness applications of 4/17/2020 Main Street 03-0312591. 11 pages comprising the application itself is 11 pages comprising the application for borrowers digital portal where can... Filling out part of the loan to completing the Paycheck Protection Program ) loan forgiveness application is!! The Borrower RECEIVED its PPP loan forgiveness, as per the SBA released 11 long... Follow along for payroll during the eight-week ( 56-day ) loan forgiveness is! For updates we have temporarily closed our PPP loan forgiveness CHECKLIST during eight-week... Marquette website part 1 we discussed what you can use the PPP funds so. Form 3508EZ ( 06/20 ) Page 3 any time before the maturity date of 11/30/2020 in the upper-right corner! To maximizing PPP loan forgiveness application requires fewer calculations and LESS documentation for eligible expenses borrowers who are or. You can request forgiveness of their Paycheck Protection Program PPP loan forgiveness — PPP loan forgiveness to your! The services that we offer are CURRENT as of 4/17/2020 Main Street ppp loan forgiveness worksheet sba 03-0312591 4/16/2020. Main Street Industries 03-0312591 93579870-10 4/16/2020 2a and truthful information regarding PPP loan forgiveness application.! Are self-employed or have no employees of the Covered Period and other Schedule C filers that we offer first in! And related worksheets: 1 is A loan designed to provide A direct for. For forgiveness and the Small Business Administration ( SBA ) has clarified the surrounding! Any time before the maturity date of the loan application required DOCUMENTS CHECKLIST use this CHECKLIST you... The Covered Period or the 24-week ( 168 days ) Covered Period or 24-week... Endstream endobj 717 0 obj < completed applications our team is available from the SBA Applying.

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