PPP Loan Forgiveness

 

It’s Time to Apply for PPP Loan Forgiveness:

SBA Direct Forgiveness Portal

(Starting Aug. 4, 2021) If your loan amount is $150,000 or less, then please use the SBA’s NEW PPP Direct Forgiveness Portal Click Here.  But, If your loan amount is over $150,000, then use either the 3508EZ or 3508 Forgiveness forms below and submit directy to us for processing.

– OR –

If you do not want to use the SBA’s Direct Forgiveness Portal and your loan amount is $150,000 or less, then you can send your Simplified Forgiveness Application 3508S to us for processing.  Download the form, complete it, then upload it to us. See the information below.

Click Here to download the Simplified Forgiveness Application 3508S.  No supporting documentation required to submit, unless requested by the SBA upon their review for approval.

OR, If your loan amount is over $150,000 then use the 3508EZ application, as long as you meet all the requirements as stated in the instructions.  The basic criteria is:

  • You are self-employed and have no employees; OR
  • You did not reduce the salaries or wages of employees by more than 25%, and did not reduce the number of hours of employees; OR
  • You experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of employees by more than 25%.

Click Here for the EZ Forgiveness Application 3580EZ.  

OR, if you did not meet the above criteria, then use the Long-Form 3508 and supporting schedules per the application and instructions.

Click Here for the Long-Form 3508 Forgiveness Application

Click Here for the Disclosure of Certain Controlling Interests Form 3508D, if required per the application instructions.

 

Visit www.sba.gov or www.treasury.gov for more information and details, including comprehensive program rules. 

UPLOAD YOUR PPP DOCUMENTS SECURELY TO US HERE

 

Or you can email them (not recommeded due to the unsecure risks of email systems) to us at: ppp@fnbpasco.com 

Please refer back to this page often as we will continue to update it as new guidance becomes available from the SBA and the Department of Treasury.

Last Update 08/02/2021