Resources for Businesses Impacted by COVID-19

Forgiveness Form

SBA issues simplified application for PPP loans of $50,000 or Less. 

 The U.S. Small Business Administration (SBA) recently approved a simplified application for all PPP loans under $50,000. The SBA released the following guidance regarding the new form, SBA 3508S:

• Borrowers that use SBA Form 3508S are exempt from reductions in loan forgiveness amounts based on reductions in full-time equivalent (FTE) employees or in salaries or wages.
• SBA Form 3508S also does not require borrowers to show the calculations used to determine their loan forgiveness amount.
• SBA may request information and documents to review those calculations as part of its loan review process.
• Documentation verifying the eligible cash compensation, non-cash benefit payments and eligible non-payroll costs from the Covered Period must be provided to the lender

View 3508S Application Form

View 3508S Instructions

View Borrower's Disclosure