The SBA now has three PPP Forgiveness forms:
1. Form 3508EZ. You can use this if your loan was less than $150,000 and you meet ANY ONE of these qualifications:
- Self-employed and have no employees
- Did not reduce the salaries or wages of your employees by more than 25 percent and did not reduce the number of hours of your employees
- Were forced to operate at reduced or closed capacity because of Covid-19 health directives
2. Form 3508S. If your PPP loan was for $150,000 or less and you don’t meet the above criteria.
3. Form 3508. If your loan was for more than $150,000.
** Please remember to share this information with the business owners in your network