To apply for Paycheck Protection Program (PPP) loan forgiveness, you will need to complete either the SBA Form 3508, 3508EZ, 3508S, 3509, 3510 or a Lender equivalent. But how do you know which form is correct, or the best/easiest path to take? Also, what do you need to do to prepare, so that you have everything ready, with the fewest delays and ultimately maximize your loan forgiveness chances?
Paycheck Protection Program (PPP) Support & Advisory Services Team
On Thursday, December 3rd, Lurie’s Economic Relief Team (Kevin Besikof, Mike Mondelli and Chris Van Schooneveld) presented general answers to these questions, shared first-hand experiences and offered advice on how to effectively prepare PPP loan forgiveness applications.
- Understanding the SBA forms & which one best applies to your situation
- Our tips to get ready, including: documentation, lender requirements and timing
- What steps in preparation take the longest or are most complex
- Case studies of successful PPP loan forgiveness
- Other valuable commentary and updates, such as the tax deductibility of PPP expenses, concerns for larger loans and what the future may hold for PPP.
Watch Our Free On-Demand Webinar: How to Prepare for Your PPP Loan Forgiveness Application
Important Notice on Webinar Recording
Guidance and Final Rules May Change
The video recording reflects our current understanding of the considerations associated with PPP loan forgiveness requirements, as of December 3, 2020. Please consult your Lurie advisor or Certified Public Accountant prior to submitting your PPP loan application, as SBA rules and other requirements may have changed after this recorded webinar.
By viewing the recorded presentation prepared by Lurie, LLP (clicking the link) you understand the content is for informational purposes only. You should not act upon this information without seeking advice from a Certified Public Accounting firm licensed in your own state.
Limitation of Liability
The materials and our commentary provided in this presentation may not reflect the most current SBA guidelines. Official guidance and rules may be changed, improved, or updated without notice. Lurie, LLP is not responsible for any errors or omissions in the content of this presentation, or for damages arising from the use or performance of this presentation, under any circumstances.