WHO CAN USE FORGIVENESS APPLICATION FORM 3508EZ? NSB BORROWER HELP 1. Are you a self-employed individual, independent contractor or sole proprietor who had no employees and did not include any employee salaries in calculating average monthly payroll when you applied for your PPP loan? If YES, use Form 3508EZ. If NO, continue to Question 2. 2.
» FORM 3508EZ ELIGIBILITY CONDITIONS: You may use Form 3508EZ if you meet ONE of the following: The Borrower is a self-employed individual, independent contractor, or sole proprietorwho had no employees at the time of the PPP loan application and did not include any employee salaries in the computation of average monthly payroll in the Borrower Application Form (SBA Form 2483).
Borrowers may also complete this application electronically through their lender. If you are unable to check one of the boxes, you cannot use SBA Form 3508EZ and instead you must apply for.
10/12/2020 · The 3508EZ form is a shorter version. Business owners believe that they are eligible to use the EZ version, rather than the full version, if their PPP loan is less than $150,000. Unfortunately, Form 3508EZ eligibility has nothing to do with the loan amount, and therefore can only be used in specific situations.
SBA Form 3508EZ (06/20) Page 1 . PPP LOAN FORGIVENESS APPLICATION FORM 3508EZ INSTRUCTIONS FOR BORROWERS Checklist for Using SBA Form 3508EZ You (the Borrower) can apply for forgiveness of your Paycheck Protection Program (PPP) loan using thisSBA Form 3508EZ if you can check at least one of the three boxes below.
SBA Releases New EZ PPP Loan Forgiveness Application, WHO CAN USE FORGIVENESS APPLICATION FORM 3508EZ?, SBA Releases New EZ PPP Loan Forgiveness Application, 7/31/2020 · It is a great time saver for small businesses that are eligible to use the form. Who is Eligible to Use SBA Form 3508EZ? Based on the checklist for those eligible to use the EZ form issued by the SBA, businesses may use the EZ form if they satisfy any one of the following three statements:, 8/7/2020 · 16. When must non -payroll costs be incurred and/or paid to be eligible for forgiveness? A non -payroll cost is eligible for forgiveness if it was: i. paid during the covered period; OR ii. incurred during the covered period and paid on or before the next regular billing date, even if.
6/18/2020 · Small-business owners who qualify can now complete Form 3508 EZ for PPP loan forgiveness. (Photo by … [+] Allen J. Schaben/Los Angeles Times via Getty Images), 10/26/2020 · Form 3508EZ and S are simplified documents for eligible employers and solopreneurs. Unless you qualify to use the EZ or S versions, you must apply with the regular Form 3508. The difference between the forms lies in the calculations you need to do.
10/7/2020 · When To Use The 3508EZ Form. The 3508EZ form is for borrowers who received PPP loans of more than $50,000. If you’re eligible to use the 3508EZ form when applying for PPP loan forgiveness, you’ll get to save some time and energy compared to those who have to fill out the regular 3508 form. However, you’ll have to meet at least one of the following three criteria to be eligible to use the …
