Howard Zangwill, CPA, Managing Director of Audit and Accounting in the Oakland office.
Howard ZangwillCPA / Partnerview bio

The PPP Loan Forgiveness Application Deadline is Approaching


RINA Alert --  July 14, 2021 | Volume 19, Issue 13 

The Paycheck Protection Program (PPP) officially ended on May 31, 2021. From April 2020 through May 2021, the program provided approximately 12 million loans totaling nearly $800 million that helped businesses keep their workforce employed during the pandemic.

These loans are eligible for full loan forgiveness if businesses used the funds for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either the 8- or 24-week period after disbursement.
Borrowers must apply for forgiveness within 10 months after the last day of the covered period.  If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender.
So, for businesses that received their PPP loan when the program launched in April 2020, there was an eight-week covered period, which would put that deadline in the middle of July 2021. For most loans operating under the more popular 24-week covered period, that could mean a deadline as early as September 2021.
To apply for forgiveness, businesses should contact their lender and complete either the SBA Form 3508, SBA Form 3508EZ or SBA Form 3508S. Then, they must compile all payroll documentation and other expenses during the loan’s covered period to provide alongside the forgiveness request form. Finally, the forgiveness form and necessary documentation are submitted to the PPP lender. It is very important for the business to remain in communication throughout the process to ensure the loan has been fully forgiven.
Please reach out to the RINA CARES team if you need help with your PPP loan forgiveness application or if you have any questions – we can be reached at

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