Paycheck Protection Program (PPP) Forgiveness
June 1, 2021
Now that the borrowing phase of the PPP has ended, churches need to file their forgiveness applications once their loan proceeds are spent. The fillable form found at this link > PPP Forgiveness Application 3508S
SBA provided instructions can be found here > PPP Forgiveness Instructions for Form 3508S
Please follow these steps:
- Please complete the form as best as possible (we will be issuing some more ‘friendly’ instructions on this site in the next day or so). Make sure to fill out the NAICS Code/Number, which is 813110 for religious organizations.
- Print, initial, sign, and scan the form.
- Gather documentation supporting the expenditures for your PPP Loan Proceeds (examples would be payroll reports, copies of check stubs, or bank statements).
- Drag and drop the initialed and signed form along with your documentation to our secure file portal at the bottom of this page.
NOTE: If you cannot scan your form or do not have electronic copies of your documents, please contact us for an alternate method to submit your documents. Also, do not submit through the LoanStreet portal you may have used before in applying for your loan.
- We will review the forgiveness application, discuss any possible issues or modifications, and let you know if any changes are needed.
- Once everything is in order, we will submit it on your behalf to the SBA and keep you appraised of your forgiveness status.
As always, please contact us with any questions you may have.