Get Sba Form 2483 2021-2025

An Applicant that files an IRS Form 1040, Schedule C, and elects to calculate the PPP loan amount using net profit must use SBA Form 2483-SD. An Applicant that files an IRS Form 1040, Schedule F, and calculates the PPP loan amount using gross income must use SBA Form 2483-SD.

The difference between the forms lies in the calculations you need to do. Form 3508 requires the most calculations, Form 3508EZ requires less calculations, and Form 3508S is nearly calculation-free (cue the celebration). The form you use depends on certain factors such as: How much you borrowed.

Additionally, agricultural producers, farmers, and ranchers can qualify for PPP loans as a small business concern if their business meets SBA's “alternative size standard.” The “alternative size standard” is currently: (1) maximum net worth of the business is not more than $15 million, and (2) the average net income ...

Forgiveness of PPP loan proceeds should be recorded as income from continuing operations, as a separate line item.

SBA Form 2483 (3/21) Paycheck Protection Program. Borrower Application Form Revised March 18, 2021. Purpose of this form: This form is to be completed by the authorized representative of the Applicant and submitted to your SBA Participating Lender.

A BORROWER MAY USE THIS FORM ONLY IF THE BORROWER RECEIVED A PPP LOAN OF $50,000 OR LESS. A Borrower that, together with its affiliates, received PPP loans totaling $2 million or greater cannot use this form.

Any individual hired by the Borrower to manage the day-to-day operations of the Borrower (“key employee”). Any trustor (if the Borrower is owned by a trust). For a nonprofit organization, the officers and directors of the Borrower.

For each individual employee, the total amount of cash compensation eligible for forgiveness may not exceed an annual salary of $100,000, as prorated for the Covered Period. For an 8-week Covered Period, that total is $15,385. For a 24-week Covered Period, that total is $46,154 for purposes of this 3508EZ.