What Documents Do I Need For PPP Loan Forgiveness? (Recommended Supporting Documents)

When the world gave us a global pandemic, the US government offered a $953-billion pound loan program. It was given the name, the Paycheck Protection Program (PPP).

This loan was established under the Coronavirus Aid, Relief, and Economic Security Act (CARES act) and was administered by the SBA. This loan program was set up to help and support the self-employed, sole traders, small businesses, non-profit organizations, and more.

The loan program was set up at the beginning of the pandemic, back in early-mid 2020, and it was set up to allow businesses and traders to get their loans forgiven.

It was relaunched in January 2021, giving businesses a second chance to get their loans forgiven. But as this is an entirely new process, getting this done can be quite intimidating.

In this guide, we’ll take a look at what the PPP loan is, what is meant by it being forgiven, and the documentation that you need to do this. So to find out more, keep on reading.

What Is A PPP Loan?

As we have established, a PPP loan is a loan that has been taken out as part of the US Government’s Paycheck Protection Program. This was set up to support sole traders, the self-employed, and small businesses throughout the Coronavirus pandemic.

Under this loan program, businesses/sole traders could apply for low-interest loans to cover their payroll, and other costs that they had to cover during the pandemic (when they couldn’t work). Businesses could apply for around 2.5 times the average cost of their payroll, and use this money to cover their payroll, interest, utilities, etc.

When the loan scheme was first announced, it was uncertain who was going to be responsible for this loan program, but it was quickly taken over by the SBA.

The SBA is the Small Business Administration, and they are a federal government agency that guarantees business loans. So it makes sense that they were the organization to take responsibility for the PPP loan scheme.

The main reason why the PPP loan scheme was set up was to protect jobs during the pandemic, if this was achieved, then companies could apply for their loans to be forgiven. But what does this mean?

What Is PPP Loan Forgiveness?

When the PPP loan scheme was set up, it was designed to support businesses. As part of this, the Government included a scheme where lenders could have their loans forgiven under the correct circumstances. It was possible to do this any time up until the maturity date of the loan.

If your forgiveness application was successful, then you would not be required to pay back any loan payments, But, as you would expect, the criteria to be accepted for loan forgiveness is pretty strict.

Whether, or not, you were accepted for loan forgiveness would depend on a couple of different things. This would include what the money was spent upon, the ways in which the business was maintained, the number of staff which were retained, and the extent to which hours and payroll for employees was managed. 

Due to all these different factors that are taken into account, as you would expect, you need to supply a variety of different documents when you are applying to have your PPP loan forgiven. So, let’s take a look at what documents you need to gather to apply to have your loan forgiven.

Documents Needed For PPP Loan Forgiveness

The PPP loan scheme was pretty open regarding what you could spend the money on, but when it comes to getting that loan forgiven, it is important that you only spent money on the following things:

  • Payroll & payroll costs
  • Healthcare costs
  • Mortgage interest payments
  • Utilities & rent
  • Interest on debts incurred prior to February 2020
  • Covered supplier costs, property damage costs, & covered worker protection expenditures
  • And some other things…

As long as you only spent the money that was granted to you under the PPP loan on these things, then you will be able to apply for PPP loan forgiveness.

If your PPP loan was for a value below $150,000 then the process has been streamlined, although we are still uncertain what this means. But, if your loan exceeds this value, then you will have to complete a lot of paperwork in your application for forgiveness.

To complete this paperwork, you will need certain information and documents.

The information that you need to gather includes:

  • The legal name of your business
  • The TIN (Tax Identification Number), SSN (Social Security Number), and
  • EIN (Employee Identification Number) for your business
  • Loan number
  • PPP Loan amount
  • Number of employees at time of application
  • Number of current employees
  • PPP loan disbursement date
  • Schedule of payroll
  • Costs of non-payroll expenses
  • 24-week covered period (leading up to maturity date)

The information that we have listed above will be required in order for you to fill out the PPP loan forgiveness paperwork. But, in order for your application to be considered, you will also need to provide some extra documents to support this. These documents will include:

  • A copy of any cancelled checks
  • Mortgage statements or lease agreements
  • Copy of utility bills
  • Bank statements with ACH information
  • List of all employees on the payroll throughout the lease period
  • Evidence of any employees that were retained/brought on during this period
  • A calculation of the average monthly figure of full-time/full-time equivalent employees paid during the covered period

Once you have gathered all of these documents, you will need to get them verified. You can self-certify, or you can get an authorized representative of your business to confirm that the documentation provided is correct. Once this is done, you simply need to submit the paperwork and wait to hear back from the SBA.


In short, the documentation that you will need to gather to support your application for PPP loan forgiveness is pretty extensive. We have given you a complete list of everything that you need to gather above. But while it might take some time, it is totally worth it, as if you are successful, you could find yourself not having to make any loan repayments in the future.

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