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PPP Forgiveness: Here's What To Do Next

Tue, February 23, 2021 9:16 PM | Edgar Mejia (Administrator)

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

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