SBA PPP2 | SBA PPP2
Are you ready to begin the PPP forgiveness process?
Start by contacting your PPP lender and complete the correct form. Your Lender can provide you with either the SBA Form 3508, SBA Form 3508EZ, SBA Form 3508S, or a lender equivalent. The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific requirements. Compile your documentation for your selected covered period. Include payroll records during covered period or the alternative payroll covered period, bank account statements that show cash compensation paid to employees, payroll tax forms, receipts, cancelled checks, or statements with employer contributions to employee health insurance and retirement plans. Non payroll items to include are business mortgage, rent, lease, utility payments. Once you have compiled all of your documentation, you are ready to submit the forgiveness form and attachments directly to your PPP lender. Stay in communication with your lender! SBA Loan Forgiveness
Happy New Year 2021! Stay safe and healthy! Lynnea Bylund
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