On Thursday, the SBA along with the U.S. Treasury Department issued a new, streamlined loan forgiveness application for businesses with Paycheck Protection Program loans of $50,000 or less.

The SBA also released a new, abridged Form 3508EZ for those meeting certain specified requirements. Let's take a look at some of the changes in the Form 3508 and then explore what the requirements ...

Those are the 3508 applications and the new 3508EZ form. If you meet at least one of the three requirements below, you may be able to complete and submit the EZ PPP loan forgiveness application.

To apply for forgiveness, businesses should contact their lender and complete either the SBA Form 3508, SBA Form 3508EZ or SBA Form 3508S.

On May 15, 2020, the SBA published the Paycheck Protection Program Loan Forgiveness Application (SBA Form 3508). While the application clears up several of the outstanding questions that borrowers may ...