Paycheck Protection Program Loan Forgiveness (10/2020) — Document 30-11, No. 1:23-cr-00210-RDB
Summary
Document 30-11 in Case 1:23-cr-00210-RDB, filed March 19, 2025: a Paycheck Protection Program Loan Forgiveness information sheet dated (10/2020). It states that Paycheck Protection Program (PPP) borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, business mortgage interest payments, rent, or utilities during either the 8- or 24-week period after disbursement. Its steps begin with contacting your PPP Lender and compiling your documentation, then submitting the forgiveness form and documentation to your lender and continuing to communicate with your lender. It states that borrowers are required to retain certain documents for six years after the date the loan is forgiven or repaid in full.
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“Paycheck Protection Program Loan Forgiveness (10/2020) — Document 30-11, No. 1:23-cr-00210-RDB.”
Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/gov-uscourts-mdd-538629-30-11-1cfc512f70/
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Case 1:23-cr-00210-RDB Document 30-11 Filed 03/19/25 Page 1 of 2
Paycheck Protection Program
Loan Forgiveness Contact Your
1 PPP Lender 2
For Borrowers
Paycheck Protection Program (PPP) borrowers may be eligible for loan forgiveness if the funds were used
1 2 3
for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either
the 8- or 24-week period after disbursement. A borrowerContact Your
can apply for forgiveness once Compile
it has used all Sub
loan proceeds for which the borrower is requesting forgiveness. Borrowers can apply for forgiveness
PPPdo not
Lender Documents Len
1 2
any time up to the maturity date of the loan. If borrowers 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.
Contact Your
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
1 2
3508S, or a Lender equivalent.
Contact
The 3508EZ and the 3508S are shortened versions of the Your
application for Compile
borrowers who meet specific
PPP Lender
requirements. Your Lender can provide further guidance on how to submit the application.
Documents
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: Determine
• Payroll tax filings reported, or that will be reported, to the IRS (typically, FormEligibility
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): Determine
Eligibility
• 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.
ontact Your
PP Lender 2 Compile
Documents
Case 1:23-cr-00210-RDB
3 Submit to
Lenders
Document 30-11
4 Keep in Touch
with YourPage
Filed 03/19/25
Lender
2 of 2
1 Contact
This list of documents
www.sba.gov/pppPPP
requiredYour
2 Compile
to be submitted to the Lender
3 Submit to
is not all-inclusive. Please refer to
Lenderlist of requirements, instructions
for a complete Documents
3. Submit the forgiveness form and documentation to your
and forms. Lenders 4
PPP Lender
Complete your loan forgiveness application and submit it to your Lender with the re-
2 3 4
quired supporting documents and follow up with your Lender to submit additional documentation
ntact Your as requested. Consult
Compile Submit
your Lender for additional guidance to requested documentation
and provide Keep inin Touch
a
P Lender timely manner. Documents Lenders with Your Lender
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.
PleaseDetermine
Note:
If applicable, SBA will deduct any EIDL advance amount you have received from the forgiveness amount
Eligibility
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
SBA Review
ne and
y
DAYS
All SBA programs and services are extended to the public on a non-discriminatory basis. (10/2020)
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