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Which form or forms need to be filled and submit by a company in order to qualify for PPP loan forgiveness?

I’ve seen two types of forms which I believe one of them is for easy and quick submission and the other includes more details. I’d like to make sure my client could claim a larger portion of forgiveness by submitting the correct details and documents.

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  1. 10 Answers

    Information directly from the Small Business Administration’s site:

    You (the Borrower) can apply for forgiveness of your Paycheck Protection Program (PPP) loan using the SBA Form 3508S only
    if the total PPP loan amount you received from your Lender was $50,000 or less. However, a borrower that, together with its
    affiliates (see 85 FR 20817 (April 15, 2020) regarding application of SBA’s affiliation rules and the exemption of otherwise
    qualified faith-based organizations from SBA’s affiliation rules), received PPP loans totaling $2 million or more cannot use this
    form. If you are not eligible to use this form, you must apply for forgiveness of your PPP loan using SBA Form 3508 or 3508EZ
    (or lender’s equivalent form).

    Check with the bank that you applied with since they may have a customized forgiveness application form that is specific to their bank. Since the forgiveness starts with your bank and then goes to the SBA, I would reach out to your PPP lender to confirm the documents you need to use.

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