The Small Business Administration has recently provided Lenders with the initial application forms and guidance on how to apply for PPP Loan forgiveness. Please follow the instructions below and submit the required documentation on this page.

Which Form Should You Submit?

PPP Loan Forgiveness Application

To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you may use the Form 3580EZ or Form 3580 application below or download and complete the application as directed in these instructions.

Completing Your 3580EZ Form

The 3580EZ application is for the borrowers that are independent contractors, self-employed, or sole proprietorships. We will need the application filled out along with the following:

  • Bank account statements, payroll service reports, payment receipts, cancelled checks, or account statements

  • IF you paid any non-payroll items, you need to send proof of the following (bank account statements and the invoices in order to get credit for them):
    • Business Mortgage payments
    • Business rent or lease payments
    • Business utility payments


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DOWNLOAD FORM 3580EZ INSTRUCTIONS

 

Please note, you are only eligible to apply for forgiveness of your Paycheck Protection Program (PPP) loan if one of the following is true:

1. You are a self-employed individual, independent contractor, or sole proprietor who had no employees at the time of the PPP loan application and did not include any employee salaries in the computation of average monthly payroll in the Borrower Application Form (SBA Form 2483).

2. You did not reduce annual salary or hourly wages of any employee by more than 25 percent during the Covered Period or the Alternative Payroll Covered Period compared to the period between January 1, 2020 and March 31, 2020;
AND
You did not reduce the number of employees or the average paid hours of employees between January 1, 2020 and the end of the Covered Period. See 85 FR 33004, 33007 (June 1, 2020) for more details.

3. You did not reduce annual salary or hourly wages of any employee by more than 25 percent during the Covered Period or the Alternative Payroll Covered Period compared to the period between January 1, 2020 and March 31, 2020;
AND
You were unable to operate during the Covered Period at the same level of business as before February 15, 2020, due to compliance with requirements established or guidance issued between March 1, 2020 and December 31, 2020 by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration, related to the maintenance of standards of sanitation, social distancing, or any other work or customer safety requirement related to COVID-19.

 

Click Below to Download the 3580EZ Form

If you do meet at least one of the requirements listed above, click below to apply with Form 3580EZ.

DOWNLOAD FORM 3580EZ

Completing Your 3580 Form

The 3580 form is for all other borrowers that received a PPP loan. We need the application filled out along with the following:

  • Bank account statements, payroll service reports, payment receipts, cancelled checks, or account statements

  • IF you paid any non-payroll items, they need to send proof of the following (bank account statements and the invoices in order to get credit for them):
    • Business Mortgage payments
    • Business rent or lease payments
    • Business utility payments

This application will also need the Schedule A and Schedule A Worksheet along with the following:

  • In regards to Full Time Employees (FTE), please see below:
    • Documentation showing the average # of FTEs employed with the company between 02/15/19 - 06/30/19, if applicable.
    • Documentation showing average # of FTEs employed with the company between 01/01/20 – 02/29/20.

DOWNLOAD FORM 3580

Please follow the instructions below to complete your application paperwork.

DOWNLOAD APPLICATION INSTRUCTIONS

Submit Your Application Below

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