{"id":933,"date":"2020-11-06T17:48:26","date_gmt":"2020-11-06T17:48:26","guid":{"rendered":"http:\/\/belbolcpa.com\/blog\/?p=933"},"modified":"2020-11-06T17:48:26","modified_gmt":"2020-11-06T17:48:26","slug":"are-you-ready-to-complete-your-ppp-loan-forgiveness-application","status":"publish","type":"post","link":"https:\/\/belbolcpa.com\/blog\/are-you-ready-to-complete-your-ppp-loan-forgiveness-application\/","title":{"rendered":"Are You Ready to Complete Your PPP Loan Forgiveness Application?"},"content":{"rendered":"

\"\"<\/p>\n

Did 24 weeks pass after you received your PPP funds? If so, then now is the time to complete your PPP loan forgiveness application. Here are a few tips from the SBA:<\/p>\n

    \n
  1. There are several different forms to use, including SBA Form 3508, SBA Form 3508EZ, SBA Form 3508S, or a lender equivalent. To quickly determine which form you should use, take a look if you meet the main criteria for each.\n
      \n
    1. SBA Form 3508EZ is generally for sole proprietors without any employees<\/li>\n
    2. SBA Form 3508S is generally used if your loan was $50,000 or less<\/li>\n
    3. SBA Form 3508 is used if you do not meet the criteria to use the other forms<\/li>\n<\/ol>\n<\/li>\n
    4. Information you may\/will need:\n
        \n
      1. Bank statements<\/li>\n
      2. Payroll service provider reports<\/li>\n
      3. Payroll tax filings filed during the covered period<\/li>\n
      4. Payment receipts or cancelled checks to document health insurance, retirement plan expenses, mortgage payments, rent payments, and utility payments<\/li>\n
      5. Copies of lender account statements, lease agreements, and invoices<\/li>\n<\/ol>\n<\/li>\n
      6. Submit the forgiveness application, along with supporting documentation<\/li>\n
      7. Follow-up with your lender. I\u2019m not really sure how long it will take, but I assume that it depends upon your lender, application volume, form used, how you prepared the application, and the amount of the loan.<\/li>\n<\/ol>\n

        If you need help completing your application, then let me know.<\/p>\n

        If you like what you just read, then don\u2019t hesitate to forward\/share with your friends and\/or click like!<\/em><\/p>\n

        Make sure to subscribe to our weekly emails to receive practical business, financial and tax strategies! <\/strong>Sign Up Now!<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

        Did 24 weeks pass after you received your PPP funds? If so, then now is the time to complete your PPP loan forgiveness application. Here are a few tips from the SBA: There are several different forms to use, including SBA Form 3508, SBA Form 3508EZ, SBA Form 3508S, or a lender equivalent. To quickly […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[2,3,90,247,7,8,18],"tags":[269],"class_list":{"0":"post-933","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-budgeting","7":"category-business","8":"category-debt","9":"category-employees","10":"category-expenses","11":"category-financial","12":"category-taxes","13":"tag-ppp-loan","14":"entry"},"_links":{"self":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/comments?post=933"}],"version-history":[{"count":1,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/933\/revisions"}],"predecessor-version":[{"id":935,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/933\/revisions\/935"}],"wp:attachment":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/media?parent=933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/categories?post=933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/tags?post=933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}