New, Simpler Form Available for PPP Forgiveness | Chicago Association of REALTORS®

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.

Find out more information here.