How To Apply For The Ppp Loan Forgiveness. The 3508ez and the 3508s are shortened versions of the application for borrowers who meet specific requirements. All ppp loans have an interest rate of 1%.
You’ll need to submit that along with paperwork showing how you spent your loan. If you do not apply for or receive forgiveness for your full loan amount, you will be required to repay any amounts that are not forgiven. Your lender can provide you with either the sba form 3508, sba form 3508ez, sba form 3508s, or a lender equivalent.
Indeed, as of this time there is still approximately $130 billion worth of funds available for paycheck protection.
When & how to apply for forgiveness. A second draw ppp loan for businesses needing additional funding. Submit the ppp loan forgiveness form to your lender. Wells fargo has a separate ppp loan forgiveness form.