Paycheck Protection Program
PPP APPLICATION CENTER
SBA stopped accepting new PPP loan applications Friday, May 28 at 6:00 PM CST
The SBA released a brand-new Form EZ for certain PPP borrowers to use to apply for forgiveness. The SBA also made borrower-friendly revisions to the initial forgiveness application. These changes are intended to make the application process easier on borrowers and to increase efficiency for lenders and borrowers alike.
The new EZ application, which you will want to use if you are eligible, requires fewer calculations and less documentation than the revised forgiveness application. To see if you qualify, go to page 1 of the instructions to the EZ. If you can check one of the three boxes at the top, you can use form EZ.
You (the Borrower) can apply for forgiveness of your Paycheck Protection Program (PPP) loan using this SBA Form 3508S only if the total PPP loan amount you received from your Lender was $50,000 or less.
SBA shares additional information as it becomes available via their newsletter. Sign up at www.sba.gov/updates.
The SBA Minnesota District Office will also be posting information on Twitter(@SBA_Minnesota) as it becomes available.