A Different PPP Loan Forgiveness Application Released
The U.S. Small Business Administration has introduced a third Paycheck Protection Program (PPP) Loan Forgiveness Application, this time for businesses who took on loans of $50,000 or less, reports Forbes.
The application is two pages long and asks several questions. The first page ask applicants to certify that the loan they received does not exceed $50,000 and that the money provided was used to pay eligible costs. Among other things, the applicants must also submit verification of payroll and non-payroll expenses for the covered period.
The second page asks the borrower for demographic information, like the veteran status, race, gender and ethnicity of the principal. Unlike the first page, filling out the section on demographic information is optional.
The U.S. Treasury Department has made Form 3508S available as a downloadable PDF file. To view the file, click here.
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