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The SBA now has two separate applications for PPP forgiveness including a Standard Application with instructions and a shortened EZ Application with instructions, if eligible. To be eligible for the PPP Forgiveness EZ Application you must be able to meet one of the below conditions:
 

Here is a free online tool that can assist you with completing your application and then be uploaded to MMFCU for submission: PPP Forgivenss Tool.com

Recent PPP Forgiveness Changes:
  • Your business now has 24 weeks to spend PPP loan funds (up from the original 8 week period). Importantly, you are still allowed to use the original 8-week period if you prefer for your forgiveness application.
  • Your business now must use at least 60% of PPP loan funds on payroll (down from the original 75% requirement for payroll). The remaining 40% has to be spent on approved non-payroll expenses.
  • The deferral period for payments of principal, interest, and fees on PPP loans has been deferred to the date on which the SBA remits the loan forgiveness amount to the lender, or, if you do not apply for loan forgiveness, 10 months after the end of your loan forgiveness covered period.
  • You now have until December 31 to fill positions if you’ve had layoffs. The prior timeframe was June 30 to rehire or fill vacant roles created due to layoffs.
  • Additionally, there are new exceptions to the program’s rehiring requirements. If your business is unable to fill vacant positions, you can still qualify for forgiveness on payroll amounts if you are able to document one of the following:
    • an inability to rehire any individual who was your employee on or before February 15, 2020, and an inability to hire a similarly qualified employee for each such unfilled position on or before December 31, 2020; or
    • your business has been unable to return to your pre-February 15, 2020 level of business activity due to compliance with certain government requirements for sanitation, social distancing, or any other worker or customer safety requirement related to COVID-19.
3 Steps for application submittal:
  1. Save the Loan Forgivenss application to your computer before filling it out
  2. Resave after completion
  3. Upload the Loan Forgiveness application and supporting documents securely using the form below
Application and Instructions:
Note:  SBA PPP loan number and lender loan number can be left blank. MMFCU will input that information into your application. 
 
 
EZ Application and Instructions:
Note:  SBA PPP loan number and lender loan number can be left blank. MMFCU will input that information into your application. 
 
 
 
Upload the Loan Forgiveness application and supporting documents securely using the form below
All applications require supporting documents with requested information being easy to identify. Missing or disorganized supporting documents will delay processing and impact forgiveness amount. If you are uploading multiple files please label them (payroll, FTE, non-payroll, etc.)
 
 
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