Review your PPP Loan Forgiveness Application Options:
- You received a PPP loan of $50,000 or less AND
- Have not, together with your affiliates, received PPP loans totaling $2MM or mor
- You are a self-employed individual, independent contractor, or sole proprietor who had no employees at the time of your PPP loan application and you did not include any employee salaries in the computation of average monthly payroll OR
- You did not reduce annual salary or hourly wages of any employee by more than 25% AND did not reduce full-time equivalency (FTE) employees during covered period OR
- You did not reduce annual salary or hourly wages of any employee by more than 25% AND were unable to operate at pre-COVID19 levels of business activity during the covered period due to compliance with government standards of sanitation, social distancing, or any other safety requirement related to COVID-19.
If you do not use either Form 3508S or Form 3508EZ, you will use Form 3508 to complete your application.
Make sure any numbers you enter in the application match your supporting documents exactly. It’s also important to upload the exact documents required during the application process. Incorrect documents could result in a delay of your application. Incorrect certifications and improper usage of funds could leave amounts unforgiven.