The Small Business Administration and Treasury has released the Paycheck Protection Program (PPP) Loan Forgiveness Applications and detailed instructions for these applications.
The PPP loan forgiveness applications can be accessed from the following links:
Loan Forgiveness Application Form 3508 (PDF)
Loan Forgiveness Application Form 3508EZ (PDF)
Loan Forgiveness Application Form 3508S (PDF)
Excerpt from SBA Top Line Overview of reopening of First Draw loans:
“SBA is reopening the Paycheck Protection Program (PPP) for First Draw Loans the week of January 11, 2021. First Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.”
Excerpt from SBA Top Line Overview of Second First Draw loans:
“The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw PPP Loan. Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.”
New 2843 application for First Draw (PDF)
New 2843-SD application for Second Draw (PDF)
New 2843-C application for First Draw for Schedule C Filers Using Gross Income (PDF)
New 2843-SD-C application for Second Draw for Schedule C Filers Using Gross Income (PDF)
The US Department of the Treasury provides links to PPP rules, guidance, and forms on this webpage. If you need further assistance with your PPP loan, please contact your SLB loan officer.
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