Wells Fargo PPP Loan Forgiveness: Guide on Application Forms

Guide on Wells Fargo PPP Loan Forgiveness Forms in Applying

WELLS FARGO PPP LOAN FORGIVENESS – Are you planning to take the PPP Loan Forgiveness of Wells Fargo? Here’s a guide on the application forms.

Undeniably, the COVID-19 pandemic did not only greatly affect the healthcare system but as well as the economy of the different countries down to the financial worries of the households. Several businesses were not able to stay afloat amid the global crisis.

Not only small businesses but as well as several big companies had to close if not all, some of their businesses as the situation does not allow a full operation for all firms. It is quite very hard most especially for those businessmen who have to pay for rent apart from the other operational expenses.

Meanwhile, several banks including Wells Fargo understand the plight of several business owners now. Thus, they got offers for those who have outstanding loans with them.

Wells Fargo PPP Loan Forgiveness

Are you familiar with the Wells Fargo PPP Loan Forgiveness? PPP stands for Paycheck Protection Program and qualified clients will get invitations for it through their email. This offer started in 2020 and is just one of the many assistance offers of the bank amid the COVID-19 crisis.

There are several applications for Wells Fargo PPP Loan Forgiveness and, before pushing through with an application, it is important to check on each form to find the one suited for you.

  • Form 3508S
    • According to Wells Fargo, this form is for loans that are $150,000.00 or less. There are less information needed in it and the processing duration may also take faster than the other forms.
  • Form 3508EZ
    • Use this form in case your loan is higher than $150,000.00 and you meet any of the following conditions:
      • Salaries and the number of employees and hours were not reduced during the covered period
      • Salaries were not reduced and unable to return to same level of business activity during the covered period
  • Form 3508
    • In case you do not meet any of the conditions of the two (2) application forms, here is the form that you must consider in applying for the PPP Loan Forgiveness offer.

Wells Fargo sends an invitation to their email accounts. Use the link sent to you to apply for it.

You may also visit – Wells Fargo Business Loan: Guide on Qualifications in Applying For It

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