October 16, 2020 Form 3508S is an SBA Form used to apply for the PPP loan forgiveness. Businesses can complete this form if they have received a PPP loan of $50,000 or less. Businesses that are eligible to complete Form 3508S are exempt from reductions in their loan forgiveness amounts. This is possible even if there is a reduction of full-time equivalent (FTE) employees or in salaries. At this time, the SBA does not request that business owners present or attach any of their wage…
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