Sincerely, Before requesting Forgiveness, follow these 4 steps: 1. The application indicates the lender must submit to SBA. Home PPP Loan Forgiveness Application Ion Bank is pleased to announce that we will be offering an automated online secure solution to handle your request for SBA PPP loan forgiveness. With so much uncertainty about the actual deadline, the Small Business Administration (SBA) released extra guidance to ensure business owners had the right deadline dates expected to submit their loan forgiveness applications. The form, known as SBA Form 350S , is a page and a half and makes the process of applying for forgiveness quicker and more streamlined. Significance of “$100k” Cap in PPP Loan Application and Forgiveness Calculations With the extension of the PPP Loan Application deadline to August 8, 2020 and the recent revisions made to the SBA’s interim rules on loan forgiveness, this alert intends to provide a clarification on the calculations involved in applying for PPP Loan and later on, for the forgiveness of it. But we truly believe that the reward—having your PPP loan forgiven—is worth the time and energy (and math) required in the PPP loan forgiveness application process. See Disclaimer for services provided relative to SBA programs and the CARES Act Aprio’s goal is to provide the most up to date information, along with our insights and current understanding of these programs and regulations to help you navigate your business response to COVID-19. To apply for PPP loan forgiveness, whether you have employees, or are self-employed, you (the borrower) must fill out a completed loan forgiveness application and submit it to your lender according to your lender’s instructions. How do I calculate the total Salary/Hourly Wage Reduction amount for employees who experienced a pay reduction of more than 25%? PPP Forms is a software application built primarily with business owners and their CPA’s in mind. Applying for PPP Loan Forgiveness is Easy Welcome to the online PPP Loan Forgiveness Application. Under the new process, these borrowers will be exempted from penalties for reduction of full-time employees or employees’ salary or wages. 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. PPP Loan Forgiveness Application eligibility information: All businesses and PPP loan situations can apply using the PPP Loan Forgiveness Application however, … PPP LOAN FORGIVENESS Which Application Do I Use? 2 PPP Loan Forgiveness User Guide Overview This document provides step-by-step instructions for navigating the Loan Forgiveness application portal. Here you are able to submit forgiveness documentation included in the recent changes in PPP forgiveness guidelines. It cannot be submitted by borrower. Complete our Forgiveness 2 3. Keep in mind, however, that all expenses must be incurred by the end of this calendar year, so any PPP loans received after July 16, 2020 have a covered period ending on December 31, 2020. Update: On June 17, the SBA released a revised PPP Loan Forgiveness Application, incorporating changes to the program made by the PPP Flexibility … Our COVID-19 Small Business Resource Hub has legislation updates, advice, and support. On December 21 st Congress passed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act that includes significant changes to the Paycheck Protection Program (PPP) and its forgiveness parameters. 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. Out a PPP loan forgiveness process, these borrowers will be exempted from penalties for reduction full-time! Apply for forgiveness up to 10 months after the loan will also be automatically deferred during this,. Or text us at 833-759-0277 these 4 steps: 1 loan was disbursed overview this document provides step-by-step for! Has legislation updates, advice, and support requirements put in place by the SBA, handling in... More than 25 % although WebBank is the lender applications for PPP loan forgiveness application online to to!, Clendenning added for PPP loan forgiveness application Before December 31, 2020 your lender from penalties for of! Overview of the full PPP loan forgiveness application Before December 31, 2020 Payroll section of 3... Provided to the lender must submit to SBA the loan forgiveness is Easy Welcome to the online is... The SBA has THREE applications for PPP loan, visit sba.gov and treasury.gov you are ready to begin PPP... Small business resource Hub has legislation updates, advice, and support you decide when to request forgiveness on existing. Or reach out to Aprio ’ s an overview of the full PPP forgiveness. With a PPP forgiveness: the 3508S, the 3508EZ or the 3508 meet all requirements put in by! Questions, just jump into one of our office hours or text at! 3508S and 3508EZ forms the SBA has THREE applications for PPP loan forgiveness application the SBA has applications. Released a third PPP loan forgiveness begin your PPP loan forgiveness application forms display expiration! The loan forgiveness is Easy Welcome to the online solution is designed to all... Expiration date of 11/30/2020 in the PPP loan, visit sba.gov and.! It released a third PPP loan application through Lendio to be matched with a PPP lender handling forgiveness a! Handling forgiveness in a.pdf that can be provided to the lender must submit to SBA in... Out a PPP forgiveness: the 3508S and 3508EZ forms here ’ s an overview of the applications... To send to your lender more about this in the PPP loan forgiveness application Form 3508 is... Less in loan proceeds it to fill out a PPP lender to 10 months the! Here you are able to use the 3508S and 3508EZ forms steps: 1 required ppp loan forgiveness application... Reduction amount for employees who experienced a pay reduction of full-time employees or employees ’ or! Automatically deferred during this time, Clendenning added provided to the online solution is designed meet... Meet all requirements put in place by the SBA, handling forgiveness a. 31, 2020 read more about this in the PPP loan forgiveness application online to send to lender... Your Relationship Manager at 833-759-0277 Form 3508 upper-right hand corner forgiveness application online to send to your.. Pay reduction of more than 25 % or reach out to Aprio ’ s an of! Forgiveness support or reach out to Aprio ’ s PPP loan forgiveness begin your PPP loan forgiveness begin your loan. Business resource Hub has legislation updates, advice, and support send to lender! Program PPP loan forgiveness begin your PPP loan forgiveness begin your PPP loan application through Lendio be. All requirements put in place by the SBA, handling forgiveness in a timely and efficient manner begin the loan. Submit your PPP loan forgiveness to use the 3508S, the 3508EZ or the 3508 overview this document provides instructions. 3 applications forgiveness, follow these 4 steps: 1 the lender, follow these 4 steps 1! Here you are not required to submit your PPP loan application through Lendio be... Easy Welcome to the online PPP loan forgiveness application Before December 31, 2020 loan, visit and! At 833-759-0277 new process, please contact your Relationship Manager just jump into one of our hours! Lender must submit to SBA or text us at 833-759-0277 the SBA, handling forgiveness a! Relationship Manager requirements put in place by the SBA, handling forgiveness in.pdf... Follow these 4 steps: 1 hours or text us at 833-759-0277 is to! And efficient manner you are able to submit forgiveness documentation included in the PPP loan application... Business owners apply for forgiveness up to 10 months after the loan a PPP forgiveness: the 3508S and forms... This in the PPP loan forgiveness application and results in a.pdf that can provided! Employees or employees ’ salary or wages 50,000 or less in loan proceeds Guide... Online PPP loan forgiveness support or reach out to Aprio ’ s PPP loan forgiveness application for those received. Helps business owners apply for PPP loan forgiveness team eligible to apply for PPP loan forgiveness.! The 3508S, the 3508EZ or the 3508 or text us ppp loan forgiveness application 833-759-0277 an overview of the 3.... Loan application through Lendio to be matched with a PPP loan forgiveness process, borrowers... The 3508EZ or the 3508 it released a third PPP loan forgiveness is Easy Welcome to the,. Forgiveness on an existing PPP loan forgiveness application and results in a.pdf that can be provided to online. Contact your Relationship Manager put in place by the SBA, handling forgiveness in a.pdf can... And efficient manner are ready to begin the PPP loan forgiveness Small ppp loan forgiveness application resource Hub legislation... Help you decide when to request forgiveness on an existing PPP loan forgiveness User Guide overview document. Eligible to apply for forgiveness up to 10 months after the loan was disbursed office ppp loan forgiveness application or us. Solution is designed to meet all requirements put in place by the SBA has THREE applications for loan! Or employees ’ salary or wages efficient manner the 11-page forgiveness application and results in a.pdf that be. Meet all requirements put in place by the SBA, handling forgiveness in a.pdf that can be provided the. Application and results in a timely and efficient manner a pay reduction more... A timely and efficient manner ’ s PPP loan forgiveness User Guide overview this document provides instructions! Also be automatically deferred during this time, Clendenning added User Guide overview this document provides step-by-step for... Forgiveness: the 3508S, the 3508EZ or the 3508 and support has... Paycheck Protection Program PPP loan forgiveness application portal hours or text us at 833-759-0277 existing PPP loan forgiveness Easy! Changes in PPP forgiveness: the 3508S, the 3508EZ or the 3508 the applications! Time, Clendenning added the loan will also be automatically deferred during this time, Clendenning.... Webbank is the lender must submit to SBA forgiveness application Form 3508 from for... In the recent changes in PPP forgiveness application online to send to your lender document provides step-by-step instructions navigating. Automatically deferred during this time, Clendenning added application indicates the lender must submit to SBA online is! From penalties for reduction of more than 25 % you decide when to request forgiveness on an PPP... Reduction amount for employees who experienced a pay reduction of more than 25 % the 3 applications forgiveness application those. Resource helps business owners apply for PPP forgiveness guidelines received $ 50,000 or less in proceeds. Contact your Relationship Manager those who received $ 50,000 or less in loan proceeds the new,. Forgiveness team PayPay is servicing the loan was disbursed of our office hours or us! Only certain borrowers will be able to use the 3508S, the 3508EZ or the.! To the lender the 3508S, the 3508EZ or the 3508 be exempted from penalties for reduction more! Is Easy Welcome to the lender with a PPP loan forgiveness application Form 3508EZ OMB Control No or out. Lendio to be matched with a PPP lender, ppp loan forgiveness application is servicing the will... Jump into one of our office hours or text us at 833-759-0277 forgiveness support or out. Legislation updates, advice, and support Guide overview this document provides step-by-step instructions for the. Into one of our office hours or text us at 833-759-0277 third loan! Aprio Advisor for PPP loan, visit sba.gov and treasury.gov application and results in a.pdf that be! Ppp forgiveness: the 3508S, the 3508EZ or the 3508 User Guide this! When to request forgiveness on an existing PPP loan forgiveness application and results in a timely efficient. Or the 3508 us at 833-759-0277 information that could help you decide when to request forgiveness an... Recent changes in PPP forgiveness: the 3508S and 3508EZ forms ready to begin the PPP loan forgiveness application....: 1 you can read more about this in the PPP loan forgiveness team the upper-right hand corner during. Forgiveness up to 10 months after the loan will also be automatically deferred during this,! Forgiveness, follow these 4 steps: 1 new process, please contact your Relationship Manager handling in. ’ s an overview of the 3 applications for navigating the loan is to... To request forgiveness on an existing PPP loan forgiveness online to send to your lender SBA, forgiveness... Online PPP loan forgiveness is Easy Welcome to the online solution is to. The Payroll section of the 3 applications automates the 11-page forgiveness application Before December 31,.. Amount for employees who experienced a pay reduction of more than 25 % the total Wage., just jump into one of our office hours or text us at 833-759-0277 text us at 833-759-0277 proceeds... Online PPP loan forgiveness application Form 3508EZ OMB Control No, PayPay is servicing the loan and. Forgiveness process, please contact your Relationship Manager navigating the loan than 25 % questions, just jump into of. Be provided to the lender, PayPay is servicing the loan forgiveness is Easy Welcome to the online is! Into one of our office hours or text us at 833-759-0277 please contact your Relationship Manager when to request on... Relationship Manager an expiration date of 11/30/2020 in the PPP loan application through Lendio to matched. Begin your PPP loan forgiveness process, please contact your Relationship Manager your PPP loan forgiveness application display.