Paycheck Protection Program Loan Forgiveness
PPP Borrowers (Loans under $150,000)
- Complete SBA Form 3508s (Instructions on pg. 3)
- Form 3508s requires fewer calculations and less documentation for eligible Borrowers. No supporting documentation is required to be submitted to bank; however, the SBA may request information and documentation to review those calculations as part of its loan review or audit process.
- CLICK HERE to upload completed & signed Forgiveness Application.
PPP Borrowers (Loans over $150,000)
- Complete SBA Form 3508ez (Instructions on pg. 5)
- Compile all supporting documentation for costs included on your forgiveness application into a single consolidated PDF if possible. Examples of acceptable supporting documentation may include:
- Copies of payroll summary and/or tax reports filed with the IRS (including tax forms 941, 940, state income, and unemployment tax filing reports).
- Any other supporting documentation of non-payroll expenses for mortgage interest, rent, or utilities, such as receipts or cancelled checks.
- Statements documenting employer contributions to health insurance premiums and retirement plan funding.
- CLICK HERE to upload completed & signed Forgiveness Application and all supporting documentation.
Please reach out to Jake Sharon (jsharon@citizensstatebank.us) or your Business Banker if you have any questions or are in need of assistance!