Right from the start, the Paycheck Protection Program (PPP) has been full of surprises. Yesterday evening, the Small Business Administration (SBA) dropped another one: it released a third PPP Loan Forgiveness application – Form 3508S. This application is only for those who received $50,000 or less in total loan proceeds.
While it’s not the simple attestation idea that was bounced around in Congress last summer, the 3508S is a one-page application, with a second page for demographic information (which is important to fill out as well). Instead of having to show your forgiveness amount calculation as you do on the 3508EZ, you simply certify seven things: