It is now easier than ever for REALTORS® to receive forgiveness on their Paycheck Protection Program (PPP) loans.
Those who borrowed $50,000 or less can fill out the new SBA Form 3508S, which requires less documentation and fewer calculations than the previous process. The new form is also only one-and-a-half pages in length.
Documentation must also be submitted to your lender confirming payroll costs, employee numbers, business mortgage interest payments, rent and utility costs for the covered period.