This application is used for small businesses who received a loan of $50,000 or less
This application should be used when your business can answer Yes to either of these questions:
The Borrower did not reduce the number of employees or the average paid hours of employees between January 1, 2020 and the end of the Covered Periodic (other than any reductions that arose from an inability to rehire individuals who were employees on February 15, 2020, if the Borrow was unable to hire similarly qualified employees for unfilled positions on or before December 31, 2020, and reductions in an employee’s hours that a borrower offered to restore and were refused).
The Borrower was unable to operate between February 15, 2020, and the end of the Covered Period at the same level of business activity as before February 15, 2020 due to compliance with requirements established or guidance issued between March 1, 2020 and December 31, 2020, by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration, related to the maintenance of standards of sanitation, social distancing, or any other work or customer safety requirement related to COVID-19.
This application is used when you are not eligible to complete either a 3508S or 3508EZ
Questions regarding PPP Loan Forgiveness, contact your lender directly or from our Local Team page.