In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that: General Info: Basic information that you must complete and verify before moving on to the next step. “The EZ application requires fewer calculations and less documentation for eligible borrowers,” the SBA said in a news release announcing the new forms with the U.S. Treasury Department. EZ PPP Loan Forgiveness Application and Instructions Related: New PPP Law Extends 8-Week Period and Reduces Percent Payroll Cost Rule What we knew before the New EZ Application and Interim Rule a. Form 3508: The Updated Loan Forgiveness Application The default Covered Period for PPP loans is 24 weeks unless you elect to use the shorter eight-week period (for pre-June 5, 2020 loans). When the Small Business Administration (“SBA”) revised the Paycheck Protection Program (“PPP”) Loan Forgiveness Application to reflect the changes made by the PPP Flexibility Act of 2020, an EZ application along with EZ application instructions were provided. Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period. See page 1 of the SBA Application for Forgiveness EZ Instructions 2. Basic Info & Calculations 2. instead you must apply for forgiveness of your PPP loan using SBA Form 3508. For the most up-to-date information visit our PPP Loan Forgiveness Portal. 116-142, which became law June 5. Basic Information (1-2) 3. PPP: New EZ Loan Forgiveness Application & Instructions Last updated June 23, 2020 Loan Details and Forgiveness. The Small Business Administration recently released a Paycheck Protection Program Loan Forgiveness Application Form 3508EZ (EZ Form) for certain PPP borrowers to use, if eligible. Keep in mind…the PPP loan forgiveness application is a tedious application. As of June 17, 2020 the Small Business Administration has issued new applications and instructions for PPP Loan Forgiveness. • Step-by-step instructions on how to: Log into the Regions PPP Forgiveness Portal Search for your loan Complete and submit the digital PPP Forgiveness EZ Application (Form 3508 EZ), to include all required supporting documentation. Link to instructions: EZ Forgiveness Application Instructions. Carefully review the SBA Provided Instructions. PPP Loan Forgiveness FAQ Sample documents Forgiveness Application – Standard Sample Forgiveness Application Forgiveness Application Instructions Schedule A Worksheet Forgiveness Application – EZ … Paycheck Protection Program PPP Loan Forgiveness Application In the below links you will find the application, instructions for application and documentation requirements issued by the SBA. Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act at First Glance Certifications 3. View the Simple Application in English or Spanish here. 3/26/20 – CARES Act – Section 1106; 4/14/20 – Interim Final Rule on Schedule C; But you need to meet certain criteria to be eligible for the EZ form. There is also a new “EZ” forgiveness application that is still three pages long (with four pages of instructions). ... For the instructions of the EZ Application press here. Portal Steps. Now accepting PPP loan forgiveness applications If you have a PPP loan with The First National Bank in Sioux Falls, you are now eligible to apply for forgiveness. New PPP loan forgiveness applications and instructions released The Small Business Administration on June 16 released a three-page “EZ” Paycheck Protection Program loan forgiveness application requiring less documentation and fewer calculations than previously required. SBA PPP Forgiveness Portal Instructions. How To Use This Guide. Details regarding the applicability of these provisions are available in the instructions to the new EZ application form. PPP LOAN FORGIVENESS EZ APPLICATION FORM 3508EZ INSTRUCTIONS Below walks you through filling out the 3508EZ form, highlighting the data we provide and were to get that data. 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