SBA Releases New PPP Loan Forgiveness Application Forms
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People also ask
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Has the SBA opened its PPP forgiveness portal?
For borrowers whose lender is participating in direct forgiveness, you can use our portal to apply after August 4, 2021. Direct forgiveness borrowers must use the SBA forgiveness portal. The questions you will be asked in the portal correspond to those asked on SBA form 3508S. -
Are new PPP applications available?
Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness. -
Is there a new form for PPP loan forgiveness application?
If you are not eligible to use this form, you must apply for forgiveness of your PPP loan using SBA Form 3508 or 3508EZ (or lender's equivalent form). Each PPP loan must use a separate loan forgiveness application form. You cannot use one form to apply for forgiveness of both a First and Second Draw PPP loan. -
Is the loan forgiveness portal open?
The Student Loan Forgiveness Portal is open. FOX 26's Tom Zizka shows the step-by-step process on how to apply. -
Is SBA PPP portal open?
The Paycheck Protection Program (PPP) loan portal is currently accepting and processing Forgiveness decisions from Lenders. -
Are they still doing PPP forgiveness?
Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness. -
What forms are needed for PPP loan forgiveness?
IRS Form 1040 Schedule C (or F), for the year used to calculate the loan amount (2019 or 2020), should be submitted with your forgiveness application. IRS Form 1065 K-1 for each partner, for the year used to calculate the loan amount (2019 or 2020), should be submitted with the partnership forgiveness application. -
Has PPP forgiveness started?
Yet nearly three years after the rollout of PPP, the vast majority of loans have been forgiven. An NPR analysis of data released on Jan. 8 by the Small Business Administration found that 92% of the loans issued have been granted full or partial forgiveness.
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