SBA Form 3511. Paycheck Protection Program Affiliation Worksheet
SBA Form 3511, also known as the Paycheck Protection Program Affiliation Worksheet, is a form required by the Small Business Administration (SBA) for businesses applying for a Paycheck Protection Program (PPP) loan.
The main purpose of the form is to determine if a business is eligible for a PPP loan and if it qualifies as an affiliate of another business. The form consists of several sections, including identifying information about the business, details about ownership and control, and questions related to affiliation.
Important fields to consider when compiling the form include the legal name of the business, the tax identification number, and information about any affiliates. It is important to carefully review the instructions and definitions provided by the SBA to ensure accurate completion of the form.
When filling out the form, businesses will need to provide data about their ownership structure, including any parent or subsidiary companies, as well as any voting or management rights held by individuals or entities. In addition to the completed form, businesses may also need to provide additional documentation to support their application, such as tax returns, financial statements, and organizational charts.
Examples of application practice and use cases for the form include small businesses seeking PPP loans, particularly those with complex ownership structures or affiliations with other entities.
Strengths of the form include its ability to help the SBA determine if a business is eligible for a PPP loan and to ensure that loans are distributed fairly and in accordance with program guidelines. Weaknesses may include the complexity of the form and the potential for errors or confusion when completing it.
There are no direct alternative forms to the PPP Affiliation Worksheet, but there are related forms and guidance available from the SBA, such as the PPP loan application and forgiveness forms.
The completion of this form can affect the future of the participants by potentially impacting their eligibility for PPP loans and loan forgiveness.
The form is typically submitted as part of a PPP loan application through a participating lender. Once submitted, the form is stored electronically by the SBA.