PPP Loan Forgiveness Application Checklist

Here is a list of the information that you will need to give to your professional so that they can prepare SBA Form 3508 (Paycheck Protection Program Loan Forgiveness Application) and its required schedules for your company.

General Info

  • Loan Number
  • Loan Amount
  • Lender PPP Loan Number
  • PPP Loan Disbursement Date
  • Number of employees at time of loan application
  • Number of employees 8 weeks (56 days) after loan disbursement date
  • EIDL advance amount (if applicable)
  • How often is payroll? (weekly/biweekly/semimonthly/monthly)

Payroll Info (get from your payroll provider).

  • Employee list with last 4 digits of SS#
  • Hours and amount paid by employee during covered period (date of loan to 56 days later)
  • Hours and amount paid by employee during 1st qtr. 2020 (1/1/20 to 3/31/20)
  • Hours and amount paid by employee during 2/15/20 to 4/26/20
  • Pay rate per employee on 2/15/20
  • Pay rate per employee on 6/30/20
  • Employer contributions to retirement plan (401k/SIMPLE. etc.) during “covered period”
  • Employer contributions to health insurance during “covered period”
  • SUTA and FUTA paid during covered period

Non-Payroll Info:

  • Business mortgage interest payments paid during covered period
  • Business rent or lease payments paid during covered period
  • Business utility payments (telephone, gas, electric, water) paid during covered period

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