We sincerely appreciate your patience as we navigate the complexities of PPP loan forgiveness together. We know that our local businesses are the heart of our communities and we continue to be committed to your success and well-being.
If you have general questions about the PPP loan forgiveness rules, we recommend you review the “Resources For Questions” section at the bottom of this page.
PPP Forgiveness Application for all loan amounts:
We are now accepting requests for the Paycheck Protection Program Electronic Forgiveness Application
After we receive your request, we will send you a link to your application. When we send you a link to your application, it is available for 120 days. After 120 days, the application expires and any data entered is deleted from the portal (for data security reasons). We do not have access to expired application data. Please be sure to review the SBA data and supporting documentation requirements ahead of time, obtain and organize any employment reports for details such as hours and rate of pay, so you can complete the application within 120 days.
Please continue to be patient with us. We are experiencing a heavy volume of forgiveness applications, so please be prepared for this process to take some time.
Click here to request a link to your forgiveness application. The request form outlines the process for you and details important changes to your PPP loan terms.
A detailed email outlining the requirements was sent to every PPP customer on August 17th. Click here to read that email content. We also recommend that you become familiar with the requirements on the Small Business Administration (SBA) website.
In addition to completing the forgiveness application, you will also need:
- Payroll documentation
- Full-time equivalent (FTE) documentation
- Non-payroll documentation
Not only will you need these documents to apply for forgiveness, the SBA requires you to retain them for six years after your loan is fully forgiven and/or repaid, and that you have them available for review in the future if requested.
This list applies to a majority of businesses, but your situation may be unique. The Paycheck Protection Program Forgiveness applications cover many special circumstances, provide information on selection of the covered period (or alternative payroll covered period) for payroll, and address how to treat FTE reduction. The SBA also continues to provide updates on forgiveness documentation requirements at SBA.gov.
While the SBA Forgiveness forms show an expiration date of October 2020, this has no bearing on your timeframe to apply for forgiveness. You actually have until the maturity of your loan to apply. However, absent an application for forgiveness, your monthly loan payments will become due beginning 10 months after the end of your covered spending period. Therefore, you should not feel rushed to move ahead until you have all of the information you need to fully support the application.
You can review the current application form(s) and the instructions for its completion using the links below:
- Paycheck Protection Program Loan Forgiveness Application
- Instructions for Borrowers for PPP Loan Forgiveness Application
- Paycheck Protection Form Application Form 3508 EZ
- Instructions for Borrowers for PPP Loan Forgiveness Application Form 3508 EZ
Additional Information About PPP Loans that are Less Than $50,000
The Small Business Administration has released a streamlined loan forgiveness application for Paycheck Protection Program loans totaling $50,000 or less.
The new single page forgiveness application, form 3508S, includes certifications from the borrower, but does not require calculations to be submitted with the application. It is important to note, however, that applicants using form 3508S are still required to submit all of the same documentation verifying forgivable payroll and non-payroll expenses.
An electronic version of the 3508S form is now available. Please click here to request your 3508S application. If you have requested your application and your loan is $50,000 or less, we will send the link to your application. You can review the new 3508S application form and the instructions for its completion using the links below:
Resources for Questions
- SBA Frequently Asked Questions on PPP Forgiveness
- Small Business Administration (SBA) Coronavirus Small Business Guidance & Loan Resources
- Previous PPP messages
- October 9th SBA Streamlines PPP Forgiveness for Loans of $50,000 and Under
- August 25th PPP Loan Forgiveness Update
- July 21st Important Updated Regarding PPP Loan Forgiveness
- June 19th SBA Announces Revised Forgiveness Application and New EZ Application for the Paycheck Protection Program
- June 9th Update: Paycheck Protection Program Flexibility Act
- May 11th Information For Our Paycheck Protection Program Borrowers
- May 6th SBA Offers Clarity For Approved PPP Borrowers Attempting to Rehire Employees
- April 27th Funding for Paycheck Protection Program Renewed
- April 24th Paycheck Protection Program Resumes
- April 16th PPP Fraud
- April 16th PPP Funds Exhausted: SBA No Longer Accepting Loan Applications
- April 14th SBA Guidance of PPP Loans for Self-Employed & Independent Contractors
- April 2nd Paycheck Protection Program with the Merrimack
- March 30th The Small Business Owner’s Guide to the Cares Act