how to get ppp loan forgiveness?

Updated July 28, 2021 to include new SBA PPP Direct Forgiveness Portrait The main attraction of the Paycheck Protection (PPP) loan.

In fact, forgiveness turns a loan into a loan.

To qualify for pardon you need to use your PPP loan appropriately for a period of time

then apply for a loan with your lender of more than $ 150,000 and directly with your lender.

or through the SBA PPP Direct Forgiveness website online for a loan of $ 150,000 or less.

The rules and requests for a pardon have changed over time.

The latest and simplest form is 3508S and can be used for a loan of $ 150,000 or less.

However, you still have to calculate your loan debt and keep those records in case your application is reviewed.

For that reason, you may want to complete Form 3508EZ or Form 3508 to calculate the waiver, and keep those documents and records with you.