The deadline to apply for PPP Draw 1 loan forgiveness is quickly approaching and we are asking all customers who have not applied for forgiveness to work with a sense of urgency to complete their application.
The submission deadline to the SBA is 10 months from the end of your covered period; however, to allow the Bank sufficient time to review and process the forgiveness packages please submit your application no later than May 31, 2021 for all Draw 1 loans. Applications received after May 31st may not be processed in a timely manner and you may be responsible for repayment of your PPP loan.
On January 19th 2021 the SBA revised all of its forgiveness forms. When applying for forgiveness please confirm that you are using the form with the 1-19-2021 date at the top. The SBA no longer accepts the older forms. There are now 3 forms for forgiveness:
- 3508S – Used for all loans under $150,000
- 3508EZ – Used for loans greater than $150,000 where there were no reductions in payroll or staffing
- 3508 – Used for loans greater than $150,000 where there were reductions in staffing or in individuals payroll
These forms are included below for your convenience.
When submitting your application, please review the instructions and documentation requirements included in the instructions for your applicable SBA Form so we can ensure a more timely processing experience. We cannot stress enough that, as part of the SBA requirements, ALL required documentation needs to be submitted to the bank before we can process and submit your forgiveness application to the SBA.
Use the link (“PPP Forgiveness Submission”) below to send us your PPP forgiveness application and all supporting documentation. Please include your company’s name in the Subject box.
Thanks for your business and if you have additional questions please feel free to contact your loan officer at the Bank.
Below are helpful resources to assist you with your Paycheck Protection Program (PPP) Loan. The documents will assist you in securing loan forgiveness and performing other actions you may need to take with regard to your PPP loan. As we receive helpful documentation we will make it available to you on this page.
Paycheck Protection Program - Second Draw Application (Form 2483-SD)
- Paycheck Protection Program (PPP) Second Draw Application (Form 2483-SD)
- Paycheck Protection Program (PPP) Interim Final Rule – Second Draw Loans
- How to Calculate Loan Amounts
FORGIVENESS (Forms updated 1/19/21)
Paycheck Protection Program - Loans $150,000 or Less (Form 3508S)
Paycheck Protection Program - EZ Application (Form 3508EZ)
Paycheck Protection Program - Standard Application (Form 3508)
Securely Send Documents to Bank Employees
(Click the button below, click Secure Upload, and then select PPP and click Submit)