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What Is Deadline To Apply For Ppp Loan Forgiveness

What Is Deadline To Apply For Ppp Loan Forgiveness. Lenders will continue accepting PPP forgiveness applications so long as borrowers have PPP loans. As mentioned during our last update the SBA and US Treasury released a new simpler forgiveness application Form 3508S for PPP borrowers who have loans of up to 50000.

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The not-for-profit business got one federal PPP loan. As mentioned during our last update the SBA and US Treasury released a new simpler forgiveness application Form 3508S for PPP borrowers who have loans of up to 50000. There is no deadline to apply for PPP loan forgiveness.

Deadline to Apply for Forgiveness of PPP Loan is Loan Maturity Date Not October 31 2020 October 14 2020 by Ed Zollars CPA Some concerns had been raised regarding the expiration date found on the various Forms 3508 to be used to apply for forgiveness under the PPP loan program.

In addition Thompson stressed that extending the deadline would also help small businesses and nonprofits torn between applying for a PPP loan or a grant from the SBAs shuttered-venue operator. Removed the restriction of participating in the deferment employer portion of social security payroll tax if you received a PPP loan. You must apply for forgiveness within 10 months after the end of the Covered Period which is the 24-week period that starts when you received your PPP loan. Your bank has 2.