Paycheck Protection Program
3508S: The Newest PPP Form
October 20, 2020
Good News for Small Businesses
The Treasury recently released a new Forgiveness Application for the Paycheck Protection Program, curated for borrowers who received a loan amount of $50,000 or less. Form 3508S simplifies the forgiveness application process for these borrowers with lower loan amounts.
Please Note: Borrowers that, together with their affiliates, received PPP loans totaling $2 million or more cannot use Form 3508S.
Borrowers that do not qualify for Form 3508S can utilize Forms 3508 or 3508EZ. To read more about these options, click here.