Paycheck Protection Program
June 19, 2020
Loan Forgiveness Just Got Easier
Our grassroots efforts worked! With the release of the new 3508EZ application, the Small Business Administration made the loan forgiveness process much easier for borrowers to navigate.
EZ App Eligibility
You may use the 3508EZ application if you fall under one of the following categories:
- You are self-employed and have no employees.
- Salaries or wages of your employees were not reduced by more than 25%, number of employees was not reduced, and employee hours were not reduced.
- COVID-19 health directives reduced your business activity, and you did not reduce employee salaries or wages by more than 25%.
Detailed payroll expenses are no longer required for each employee. Cumulative payroll expenses can be utilized for easier reporting!
The application submission window is not yet open. We will notify you when we are accepting applications.
If you do not qualify for the 3508EZ Application, a revised Forgiveness Application has been released for your use. Both applications and instructions are included below.