All you need to know to complete your loan forgiveness application.
*New* SBA Form 3508S Loan Forgiveness
Application available to borrowers if they received loans of $50,000 or less
- For borrowers with loans of $50,000 or less, the SBA Form
3508S requires fewer calculations and less documentation for eligible borrowers. Borrowers that use SBA Form 3508S are exempt from reductions in loan forgiveness amounts based on reductions in
full-time equivalent (FTE) employees or in salaries or wages. SBA Form 3508S also does not require borrowers to show the calculations used to determine their loan forgiveness amount. However, SBA may
request information and documents to review those calculations as part of its loan review process.
SBA Form 3508EZ Loan
Forgiveness Application available to borrowers if they:
- Are self-employed and have no employees; OR
- Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
- Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more
SBA Loan Forgiveness Application Form
3508 - Long Form
- For all loans over $50,000
APP/TOOL - If your lender does not yet have a calculator to determine your loan fogiveness, try this website.>>