If you've already applied for and received your Paycheck Protection Program loan, congratulations! But did you know there's a whole other form that borrowers must submit to their lenders if they want to be considered for loan forgiveness? Businesses that meet certain requirements do not have to repay the funds they received from the PPP. If you are eligible for this exemption and want to make sure your application is processed as soon as possible (and without errors or omissions), electronic signatures are the way to go. Read on to learn how to fill out the PPP loan forgiveness application online and send it swiftly to the SBA.
Signeasy and the PPP
When the PPP was announced, we knew we had to act fast: funds were limited. Within 48 hours of the program rollout, we integrated a handy direct link to the PPP form into the Signeasy dashboard. Since its launch the feature has been used by more than 530 businesses from all over the world to fill out their loan applications!
When time is of the essence – and in the case of PPP paperwork, it most certainly is – there's no faster way to turn documents around than with eSignatures. Here’s what our customers had to say about their experience using Signeasy to fill out their loan application.
“[The PPP feature] was helpful and pretty easy to complete. I liked the drag and drop. Thank you!” – Kyrone M., Director @ Open Roads Bike
“Due to Signeasy, I was able to sign the PPP form and get back to my bank quickly. They not only received the document, but I was able to fill it so quickly and effectively that I was protected before any more payments were taken from my account. Ultimately, your app has been a life saver for me, and I cannot thank you enough.” – Vinny C., Sales Manager
“Love seeing this! Was super easy, helpful, as always.” – David C., President @ Kaizen Sales Recruiting.
How to fill out the PPP loan forgiveness application online with Signeasy
If you've applied for the PPP, your business has likely experienced a major shift in the last couple of months. Businesses are starting to re-open with restrictions such as the number of people allowed everyday. There may also be restrictions on the usage of shared office equipment like printers and scanners in faxes. With restrictions or without, employees will be skeptical of using communal equipment for the fear of cross-contamination. To run business as usual, businesses need to establish remote workflows to replace the old ones.
With Signeasy, you can now fill out the PPP loan forgiveness form in a few clicks. Here's how:
- Create a Signeasy account if you haven't already. If you have one, log in.
- If you are using Signeasy on web: Select the PPP Forgiveness form
- If you are using Signeasy on a mobile app: Click the "Explore PPP Forms" button, then select the PPP forgiveness application.
- Add in your initials, signature, and the date using the annotations panel. You will be able to customize the look of your initials and signature, or upload your own.
- Once you've entered all your information, click “Finish” in the top right corner. Then, email it directly from Signeasy to your lender for processing.
We created these web and mobile tutorials to help you:
- How to fill out the PPP loan forgiveness application online on web
- How to fill out the PPP loan forgiveness application online on iOS
Are electronic signatures legally binding?
Yes, absolutely! You will have no problem submitting an electronically signed document for your SBA loan. In fact, SBA has been accepting digital signatures as wet ink equivalents since 2015.
In Signeasy’s case, we comply with all major eSignature legislation, including the eSIGN Act and UETA in the United States, eIDAS in the European Union, and GDPR data security regulations. For more information on eSignature legality around the world, we’ve put together a handy blog post.
Is your organization active in COVID-19 relief efforts, and looking to give eSignatures a try? If so, we want to help you. Visit our COVID-19 response page, or just write in to us at support@ to inquire and share your needs.