February 26, 2021
SBA PPP Loan Forgiveness Application- 21st Century Bank Customers
The SBA now has three new versions of the PPP Forgiveness forms that reflect the changes implemented by the Economic Aid Act that was signed into law on December 27, 2020. The different versions of these forgiveness forms are detailed and linked below.
The biggest change of note is that the new 3508S Forgiveness Form now applies to any loan of $150,000 or less. This should simplify the forgiveness process for many. Please read through this email carefully to see how these form changes affect your PPP Forgiveness Application. It should be noted, that these form changes only apply to those that have not filed for loan forgiveness as of this date. You do not need to reapply for forgiveness if you have already submitted your application to us.
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