Currently, we are accepting Wells Fargo PPP Loan forgiveness applications for most loans originated in 2020 and First Draw Loans originated in 2021.
If your loan is eligible, you will receive an email invitation and a link to the forgiveness application will be available through Wells Fargo Business Online or the Commercial Electronic Office (CEO). We start by reviewing this site before we explain the application process.
In this article, we help you to prepare for Payback Protection Program (PPP) loan forgiveness. We also help you to review the information before you apply for loan forgiveness. We understand loan forgiveness for your recent Paycheck Protection Program (PPP) loan is important to your business.
Wells Fargo PPP Loan: How To Prepare It
Now you can understand the covered period and the eligible costs. You will find additional information on our sites
Review the payback protection program (PPP) Loan Forgiveness Application options. You’ll either use:
- Form 3508S _ you can use this form if your loan is $150,000 or less. This simple form requires you to provide less information and the processing time may also be shorter than other forms.
- Form 3508EZ _ you can use this form if you are not eligible for Form 3508S, and you meet one of the two eligibility conditions.
- Forn 3058 _ also, you can use this form if you do not meet the eligibility conditions for either of the other forms.
Now you can go to How To Prepare and start gathering the recommended supporting documents as applicable.
- Once you start your online application, you’ll be able to save and come back to it as you prepare it.
- For eligible customers who are ready to apply for loan forgiveness, the link to the forgiveness application can be accessed through Wells Fargo Business Online or the Commercial Electronic Office (CEO). After signing on, Wells Fargo Business Online users will see the application link in Account Summary after expanding each eligible PPP loan account. CEO users will see the link on the home page, after signing on.
- You’ll want to wait to submit your PPP loan forgiveness application until you have collected and uploaded all your supporting documents, as applicable.
- We’ll review your loan forgiveness application and supporting documents, then submit the completed application to the U.S. Small Business Administration (SBA).
- We’ll let you know when we receive a response from the SBA.
The information contained on this page is based on laws, rules, regulations, and related guidance with respect to the Paycheck Protection Program (PPP), including updates based on the Economic Aid to Hard-Hit Small Businesses in the USA