---
title: SBA Gives Guidance and Form for PPP Loan Forgiveness - Ahola
description: The SBA released more guidance on the Paycheck Protection Program (PPP) loan forgiveness process. Click through for information.
---

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# [SBA Gives Guidance and Form for PPP Loan Forgiveness - Ahola](https://blog.ahola.com/sba-gives-guidance-and-form-for-ppp-loan-forgiveness)

 Written by [aholaadmin](https://blog.ahola.com/author/aholaadmin) | May 18, 2020 1:29:21 PM

On Friday, May 15th, the [**SBA and Treasury released the Paycheck Protection Program loan forgiveness application**](https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/sba-and-treasury-release-paycheck-protection-program-loan-forgiveness-application).

One of the most significant features of the SBA’s Paycheck Protection Program is the [**f****orgiveness provision**](https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program#section-header-8)—the loans become grants for companies that use the loans to maintain their workforce levels. Companies that have met the stringent requirements need to **[fill out a form](https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/sba-and-treasury-release-paycheck-protection-program-loan-forgiveness-application)** and follow instructions carefully—they include several measures to reduce compliance burdens and simplify the process for borrowers, including:

- Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles.
- Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan.
- Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness.
- Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30.
- Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined.

The application requires extensive information about your business and the loan, so be sure to have your paperwork ready as you begin.

[**Access the application here**](https://www.sba.gov/sites/default/files/2020-05/3245-0407%20SBA%20Form%203508%20PPP%20Forgiveness%20Application.pdf).

[View full post](https://blog.ahola.com/sba-gives-guidance-and-form-for-ppp-loan-forgiveness)

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