After PPP Borrowers have completed their 8-to-24-week covered period and spent all PPP Loan funds on covered expenses, they may apply for forgiveness. The SBA has provided three different PPP Forgiveness Applications:
- Form 3508S – This simplified PPP Forgiveness Application can be used for all loans of $150,000.00 or less. If your loan is $150,000.00 or less, please access this form and follow instructions provided to apply for forgiveness.
- Form 3508EZ and Form 3508 – If your PPP Loan is greater than $150,000.00, you will use either Form 3508EZ or Form 3508 to apply for forgiveness. Borrowers should begin with the Form 3508EZ instructions and find the “Checklist for Using SBA Form 3508EZ” to see if they qualify for this simplified form or if they must complete the full Form 3508 in order to apply for loan forgiveness.
Please supply all requested items and COMPLETELY fill out the forms checking every box, filling every field and initialing every blank or it will delay the loan process.
SBA PPP Direct Forgiveness:
We have pre-staged your SBA PPP Forgiveness application. This application can be completed by clicking here (https://directforgiveness.sba.gov/) and following instructions provided by the SBA to register your account. The SBA has launched a new way to apply for Forgiveness and Delta Bank is proud to offer this solution as a service to help you. You can also access SBA PPP Direct Forgiveness customer service by calling 877-552-2692.