Paycheck Protection Program(PPP) Loan Forgiveness Center
The information contained in this page is based on guidance issued by the U.S. Small Business Administration (SBA). The information on this page will be updated periodically, therefore we recommend that you visit this page frequently for the most up-to-date information.
We understand how important the PPP Loan Forgiveness is to you and your business, and we want you to know that we’re here for you.
Below we’ve outlined a list of tasks businesses need to complete to prepare for the loan forgiveness submittal process through the online Client Portal.
Let’s get started!
Selecting the proper form
Review Form 3508 to identify if you’ll be using the Form 3508, Form 3508EZ, or if you borrowed $50,000 or less, review Form 3508S
Steps to prepare
Select your Covered Period:
Loans funded before June 5th, can choose the 8-week (56 days) or 24-week (168 days) period, or
Alternative Payroll Covered Period as the timeframe for incurred payroll costs (if applicable).
If the loan was disbursed June 5th or after the borrower will only have 24 weeks (168 days) period.
For Borrowers that had more than a 25% salary wage reduction during the Covered Period or Alternative Payroll Covered Period, reference pg. 4 “Salary/Hourly Wage Reduction”, section outlined in the Loan Forgiveness Application Instructions for Borrowers.
Prepare documentation
Gather documents that show how funds were spent during the Covered Period or Alternative Payroll Covered Period.
Scan supporting documents in PDF, PNG, JPEG, or TIFF format under 25 MB, to ensure you’re able to upload the documents onto the online client portal.
About forgiveness eligibility
In order to benefit from full forgiveness, at least 60% of your request amount must be for eligible payroll costs. The rest can be for eligible non-payroll costs.
Client Portal Access
To access the online client portal, you’ll have to ensure that you’ve completed all of the steps outlined above.
Contact your Relationship Manager directly to let them know that you’re ready to submit your PPP Loan Forgiveness application. Your Relationship Manager will send you a notification with a link to the online client portal for you to begin your online application.
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