Forgiveness Rules & Forms
A borrower can apply for forgiveness once all loan proceeds for which the borrower is requesting forgiveness have been used. In 2021 the new simplified PPP Forgiveness rules and forms have been published. If you have not yet been notified that your loan has been forgiven (even if you have applied for forgiveness), we encourage you submit the new forgiveness application, as it is much simpler than the previous versions and should lead to faster forgiveness.
For loans below $150,000, you will use the new Form 3508S; no additional documentation has to be submitted with this updated forgiveness application. The new Form 3508S can be found by clicking here.
For those loans above $150,000, you will utilize either Form 3508EZ found by clicking here or Form 3508 found by clicking here. Each form contains the instructions and the required documentation that will need to accompany the forgiveness application.
Please submit the application to PPPforgiveness@CUofGA.org.
For more information, please contact us at 678-486-1111 or SBAPPPLoans@CUofGA.org.
Paycheck Protection Program Loans
After more than a year of operation and serving more than eight million small businesses, funding for the bi-partisan Paycheck Protection Program has been exhausted. The SBA will continue funding outstanding approved PPP applications, but new qualifying applications will only be funded through Community Financial Institutions, financial lenders who serve underserved communities. For more information, please visit www.SBA.gov.