FAQ: PPP Loan Forgiveness Documentation

Forgiveness documentation

If you’ve received a PPP loan through Pursuit, you likely have questions about the tools we’ve created to help you stay organized on loan forgiveness documentation. These tools include the Sharefile account that we set up for you shortly after your loan was funded. This FAQ provides valuable information on commonly asked questions about PPP loan forgiveness documentation.

I received my ShareFile link – what do I upload?

Our goal with the ShareFile portal is to create a place for you to diligently upload necessary information on an ongoing basis throughout the 24-week period following loan funding. This will help to alleviate the burden of compiling your documents all at once.

As you pay payroll, rent, utility and mortgage interest costs throughout the eight-week period, please upload the information to ShareFile.

Here is additional information on the types of documents you should upload:

  • Payroll costs: Reports from third-party payroll providers, cancelled checks or paystubs
  • Rent: cancelled checks, receipts, or similar documentation showing that rent has been paid
  • Utilities: copies of utility statements and proof of payment
  • Mortgage interest: copies of your mortgage statement and proof of payment

Do I have to upload my documents immediately, or can I wait?

No, you do not have to upload information immediately, although we do not recommend waiting until the end of the period to upload all documentation. Staying on top of document organization will make the process easier in the long run.

Has Pursuit created a substitute for SBA Form 3508 (loan forgiveness application) yet? When will this happen?

An online loan forgiveness application will be available for Pursuit PPP clients in mid-June. You will not be responsible for completing the SBA Form 3508. We will let you know when the Pursuit forgiveness application is available. Please be patient as the rules continue to evolve.

Is there something else besides the spreadsheet I should be completing?

Until the online loan forgiveness application is available in mid-June, you can begin compiling any relevant documentation for payroll costs, rent, utilities and mortgage interest paid. Once the online application for the forgiveness portion is available, you will need to complete this application.

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