Exhibit PPP Forgiveness Factsheet — USA v. Cisternino (Dkt. 42.1)

Summary

Document 42-1, filed 12/29/22 in No. 6:21-cr-00016-AGM-DCI in the U.S. District Court for the Middle District of Florida, is a two-page exhibit reproducing an SBA fact sheet titled Paycheck Protection Program Loan Forgiveness For Borrowers, dated 10/2020 in its footer. It explains that borrowers may qualify for forgiveness if funds paid eligible payroll, mortgage interest, rent or utility costs within an 8- or 24-week period. Borrowers apply through their PPP lender using SBA Form 3508, 3508EZ, 3508S or a lender equivalent, with payroll, tax and non-payroll expense documents. If no application is made within 10 months after the covered period ends, loan payments resume. The sheet also says borrowers must keep certain records for six years.

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Paycheck Protection Program 
Loan Forgiveness
For Borrowers
Paycheck Protection Program (PPP) borrowers may be eligible for loan forgiveness if the funds were used 
for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either 
the 8- or 24-week period after disbursement. A borrower can apply for forgiveness once it has used all
loan proceeds for which the borrower is requesting forgiveness. Borrowers can apply for forgiveness 
any time up to the maturity date of the loan. If borrowers do not apply for forgiveness within 10 
months after the last day of the covered period, then PPP loan payments are no longer deferred and 
borrowers will begin making loan payments to their PPP lender.
How to Apply for Loan Forgiveness
1. Contact your PPP Lender and complete the correct form
Your Lender can provide you with either the SBA Form 3508, SBA Form 3508EZ, SBA Form 
3508S, or a Lender equivalent. 
The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific 
requirements. Your Lender can provide further guidance on how to submit the application. 
2. Compile your documentation
Payroll (provide documentation for all payroll periods that overlapped with the Covered 
Period or the Alternative Payroll Covered Period):
• Bank account statements or third-party payroll service provider reports documenting the 
amount of cash compensation paid to employees.
• Tax forms (or equivalent third-party payroll service provider reports) for the periods that overlap with the 
Covered Period or the Alternative Payroll Covered Period: 
• Payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941); and
• State quarterly business and individual employee wage reporting and unemployment insurance tax 
filings reported, or that will be reported, to the relevant state.
• Payment receipts, cancelled checks, or account statements documenting the amount of any employer 
contributions to employee health insurance and retirement plans that the borrower included in the 
forgiveness amount.
Non-payroll (for expenses that were incurred or paid during the covered period and showing that obligations 
or services existed prior to February 15, 2020):
• Business mortgage interest payments: Copy of lender amortization schedule and receipts verifying 
payments, or lender account statements.
• Business rent or lease payments: Copy of current lease agreement and receipts or cancelled checks 
verifying eligible payments.
• Business utility payments: Copies of invoices and receipts, cancelled checks or account statements.
Case 6:21-cr-00016-AGM-DCI     Document 42-1     Filed 12/29/22     Page 1 of 2 PageID 210

This list of documents required to be submitted to the Lender is not all-inclusive. Please refer to  
www.sba.gov/ppp for a complete list of requirements, instructions and forms.
3. Submit the forgiveness form and documentation to your
PPP Lender
Complete your loan forgiveness application and submit it to your Lender with the re­
quired supporting documents and follow up with your Lender to submit additional documentation 
as requested. Consult your Lender for additional guidance and provide requested documentation in a 
timely manner.
4. Continue to communicate with your Lender throughout the
process
If SBA undertakes a loan review of your loan, your Lender will notify you of the review and 
the SBA loan review decision. You have the right to appeal certain SBA loan review decisions. Your Lender 
is responsible for notifying you of the forgiveness amount paid by SBA and the date on which your first 
payment will be due, if applicable.   
Please Note: 
If applicable, SBA will deduct any EIDL advance amount you have received from the forgiveness amount 
remitted to the Lender, as required by section 1110(e)(6) of the CARES Act. Borrowers are required to retain 
certain documents for six years after the date the loan is forgiven or repaid in full.
Questions? Contact your PPP Lender or find more information at www.sba.gov/ppp
3
All SBA programs and services are extended to the public on a non-discriminatory basis. (10/2020)
Case 6:21-cr-00016-AGM-DCI     Document 42-1     Filed 12/29/22     Page 2 of 2 PageID 211

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