For those of you who received a PPP loan, the application to apply for loan forgiveness is now available. This PPP Forgiveness application needs to be completed in order to have the loan forgiven. Along with the application, supporting documents listed on Page 10 of the 11-page document are required.
Please refer to Schedule A, Page 10, for more information. But, here are some of the highlights:
- Payroll Reports for each pay period within the loan time frame
- Tax Forms (941)
- Payment receipts, cancelled checks, or account statements documenting employer contributions to group insurance and retirement plans
- List of FTE on payroll per month between 2/15/19 and 6/30/19
- Average number of FTE on payroll per month between 1/1/20 and 2/29/20
- Business mortgage interest payments
- Lease agreements and receipts or cancelled checks verifying eligible rent payments
- Copy of invoices from 2/2020 and those paid during the covered 8-week period for business utility payments.
It is our understanding that this is due back to your lender 12 weeks from date of loan distribution.
We’re happy to help in any way we can, however, we may have to defer some questions back to your lender. For more information, refer to the below links and reach out to us with any questions you may have.