SBA Loans: COVID-19 Programs

Paycheck Protection Program (PPP) Forgiveness

A PPP loan may be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, utilities, covered operations expenditures, covered property damage costs, covered supplier costs, and/or covered worker protection expenditures. NOTE: At least 60% of the forgiven amount must have been used for payroll.

Apply Directly with the SBA

If you received a PPP loan for $150,000 or less, you can apply for Forgiveness directly with the SBA. According to SBA data, most applicants complete the process in under 6 minutes.

Visit to access a current guide and the Direct Forgiveness process.

The SBA offers live customer service to borrowers at 877-552-2692.

Apply through Freedom Bank

If you received a PPP loan from Freedom Bank that is over $150,000 or you do not with to apply directly with the SBA, please follow the steps below to apply for Forgiveness.

  1. Download the appropriate Forgiveness Application. Each PPP loan must use a separate loan forgiveness application form. You cannot use one form to apply for forgiveness of both a First and Second Draw PPP loan.
    • 3508S Application – A borrower may use this form only if the borrower received a PPP loan of $150,000 or less.
    • 3508EZ Application – A borrower may use this form if the borrower received a PPP loan for more than $150,000. Please review the certifications to ensure you are eligible to use this form.
    • 3508 Application – A borrower must use this form if the borrower is not eligible to utilize the 3508S or 3508EZ application. Please contact your lender to discuss your circumstance.
  2. Contact for your PPP loan details and to receive a link to submit your application securely.

For a complete description of program details, please see the SBA Interim Final Rule for the Paycheck Protection Program (PPP) as Amended by the Economic Aid Act.