PPP Lender Agreement. Use this form to apply for the Paycheck Protection Program (PPP) with an eligible lender for a First Draw loan.Existing borrowers may be eligible for PPP loan forgiveness. King Seeking to Simplify Paperwork for Businesses Seeking PPP Loan Forgiveness. If your business received a PPP loan, you need to decide whether to account for it as a loan or a grant on your financial statements. This application provides new guidance regarding how the PPP loan funds may be used. Companies that have met the stringent requirements need to fill out a form and follow instructions c. The amount received from the SBA should be shown as a cash inflow from financing activities. How should we fill out SBA PPP loan forgiveness form?