PPP Loan Forgiveness Information

Loan Forgiveness Process

The Consolidated Appropriations Act creates a simplified application process for loans under $150,000.

A borrower shall receive forgiveness if they sign and submit to the lender a certification that is not more than one page in length, includes a description of the number of employees the borrower was able to retain because of the covered loan, the estimated total amount of the loan spent on payroll costs,  and the total loan amount. The borrower must also attest that they accurately provided the required certification and complied with PPP loan requirements.  Additionally, borrowers are required to retain relevant records related to employment for four years and other records for three years.

The Administrator may review and audit these loans to ensure against fraud.  This applies to loans made before, on, or after the date of enactment of the Act, including the forgiveness of the loan. 

Apply Now for Loan Forgiveness

Borrowers of a PPP loan (first or second draw) would be eligible for loan forgiveness equal to the sum of their payroll costs, as well as covered mortgage, rent, and utility payments, covered operations expenditures, covered property damage costs, covered supplier costs, and covered worker protection expenditures incurred during the covered period.  The 60/40 cost allocation between payroll and non-payroll costs will continue to apply in order to receive full forgiveness. 

If you comply with forgiveness rules, all or some of your loan can be forgiven.  Please refer to detailed instructions provided within each form.


Use for loan amounts of $150,000 and under.

Form 3508S   Line art graphic of a business form and pencil.  Application 3508S


Use for loan amounts greater than $150,000.  Borrowers have the option of using either Form 3508EZ or Form 3508. 
The EZ form is a simplified version of Form 3508.  Most borrowers qualify for the use of this form.
Form 3508EZ    Line art graphic of a business form and pencil.   Application 3508EZ(Opens in a new Window)                    Form 3508   Line art graphic of a business form and pencil.  Application 3508