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Paycheck Protection Program Loan Forgiveness Application

Wednesday, May 20, 2020   (0 Comments)
Posted by: Sabrina Hidalgo
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On May 15, 2020, the Small Business Association (“SBA”) issued its application and instructions for loan forgiveness under the Paycheck Protection Program (“PPP”).
 
The borrower loan forgiveness application form, SBA Form 3508, “Paycheck Protection Program Loan Forgiveness Application,” is found at:
 
 
The application has four components: (1) PPP Loan Forgiveness Calculation Form; (2) PPP Schedule A; (3) PPP Schedule A Worksheet; and (4) (optional) PPP Borrower Demographic Information Form. Borrowers are required to submit items (1) and (2) to their lender.
 
Members of RCRI are urged to consult the analysis of the loan forgiveness application entitled Paycheck Protection Program Loan Forgiveness Application: Information for US Religious Institutes and their Sponsored Works found in the members’ section of the RCRI website. Click Here
 
Both members and non-members of RCRI are invited and encouraged to contact RCRI with any questions, especially in regards to the prepared analysis.

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