Where to Submit Your PPP Loan Forgiveness Application

If you’re wondering where to submit your PPP loan forgiveness application, look no further! We’ve got all the info you need right here.

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SBA Loan Forgiveness Application

The Paycheck Protection Program (PPP) loan forgiveness application is now available on the Small Business Administration (SBA) website. If you have already submitted your PPP loan forgiveness application to your lender, you do not need to take any additional action.

What You Need to Include in Your Application

To complete your PPP loan forgiveness application, you’ll need to include the following:

· Completed and signed Loan Forgiveness Application Form
· Documentation verifying your eligibility for loan forgiveness
· Any supporting documentation you used to complete your Loan Forgiveness Application Form
· Your PPP Loan promissory note
· Your most recent Federal income tax return (or personal tax return if you are a sole proprietor, independent contractor, or self-employed individual)
· Documentation verifying your payroll costs incurred and paid during the Covered Period or Alternative Payroll Covered Period
· Documentation verifying any eligible non-payroll expenses incurred and paid during the Covered Period or Alternative Payroll Covered Period

How to Submit Your Application

The following forgivenapplication.sba.gov is the online portalto submit your completed PPP loan forgiveness application and supporting documentation electronically.

You will use the online portal to:

– Enter required borrower demographic information
– Select your PPP loan forgiveness calculation method
– Upload the required supporting documentation
– Review and certify the application for submission
An authorized representative of your business, with the ability to certify that the information provided is true and accurate on behalf of your business, will need to create an account and login to the portal. The portal uses Bank Verification (BVN) to verify Authorized Representatives.

Once you have logged into the portal, you may begin an application or return to a saved application by selecting “ContinueApplication.” After an application is started or retrieved, please enter all required borrower demographic information in order for SBA to process your forgivenessapplication. If any sections do not apply to your business, please enter “0” or “Not Applicable,” as appropriate. When all required fields have been completed, please select “Save & Exit” or “NextSection” at bottom of each page until you reach Attestation where you can review and certify your application for submission.

Lender Forgiveness Application

If you’re a small business owner who took out a Paycheck Protection Program (PPP) loan, you’re probably wondering how to apply for loan forgiveness. The process can be a bit confusing, but we’re here to help. Here’s everything you need to know about where to submit your PPP loan forgiveness application.

What You Need to Include in Your Application

In order to have your PPP loan forgiven, you must submit a loan forgiveness application to your lender. This application will include documentation verifying that you spent the loan proceeds on eligible expenses and maintained employee headcount and compensation levels.

You can find the loan forgiveness application form (SBA Form 3508) on the SBA website. The instructions for the form list all of the documentation that you will need to include with your application, which may include:

-Payroll records verifying eligible expenses
-Documentation verifying eligible non-payroll expenses
-A Certification from a representative of your business attesting to the accuracy of the information provided in the application and supporting documentation
-Tax forms (e.g., IRS Form 941)
-Employment verification forms (e.g., state unemployment insurance filings)

How to Submit Your Application

To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (or your lender on your behalf) must submit a request to the Small Business Administration (SBA). You’ll do this using the SBA Form 3508 or 3508EZ, as applicable. Be sure to review instructions for these forms before beginning your forgiveness application.

You may apply for forgiveness any time before the maturity date of your loan, which is either two or five years from loan origination. If you don’t apply for forgiveness within this window, you’ll have to start making payments on your loan, including principal, interest, and fees.

You can submit your forgiveness application to your lender or servicer electronically or by mail. Your lender or servicer will then have 90 days to review and approve your request. If they have questions or need more information from you, they’ll reach out during this timeframe.

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