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PPP Forgiveness

SBA Paycheck Protection Program

PPP Loan Forgiveness

Under the Small Business Administration (SBA) Paycheck Protection Program (PPP), loans may be forgiven if borrowers use the proceeds to maintain their payrolls and pay other specified operating expenses, including interest on mortgages, rent and utilities. Currently, at least 60% of the forgiven amount must be used for payroll costs.


Civista PPP Forgiveness Portal IconRequesting PPP Loan Forgiveness

PPP Forgiveness Online Portal

Our easy-to-use portal will:
  • Calculate your COVID Revenue Reduction Score - If you receive a passing score, you will not be prompted to provide any revenue reduction documentation – making your Forgiveness process even easier.  Applies to PPP loans $150,000 or less.
  • Automatically populate select information fields on file from your original PPP loan application saving you time and effort. 
  • Complete the application for you based upon your unique situation and the information you input.


 

PPP Forgiveness Supporting Documentation

The SBA Standard 3508, EZ, and S Forms provide detailed instructions for the required documentation. Here are some helpful tips for payroll and non-payroll expenses.  

Uploading Supporting Documentation


Frequently Asked Questions

You (the Borrower) can apply for forgiveness of your Paycheck Protection Program (PPP) loan using this SBA Form 3508S if the total PPP loan amount you received was $150,000 or less.

The SBA issued a simplified PPP Loan Forgiveness Application called the 3508EZ Form on June 16, 2020 (revised January 19, 2021). This form is designed to reduce the required calculations for those that qualify. In order to qualify, you must:
  • NOT have reduced salaries of employee wages by more than 25%, and must not have reduced number of hours; OR
  • Have suffered a reduction of business activity as a result of health directives related to the COVID-19 pandemic and did not reduce employee salaries or wages by more than 25%.
If you, the borrower, do not qualify under one of the two criteria, you must use the Standard 3508 Form.

The deadline to apply for PPP Forgiveness will vary by borrower, depending on the Covered Period they have chosen (8 weeks or 24 weeks). As long as the borrower submits their loan forgiveness application within ten months of the completion of the Covered Period, the borrower is not required to make any payments until the forgiveness amount is remitted to the lender by the SBA. If a borrower doesn’t apply for forgiveness within the 10 month period, amortization will begin in the 11th month.

For example, if your loan disbursed on April 20, 2020, the 24-week Cover Period would end on October 5, 2020, and if the loan forgiveness application was not submitted by August 5, 2021, payments would begin.

Yes, the borrower will receive a payment notice in advance of any payment due.  Repayment is only required if the loan is not fully forgiven or you do not apply for forgiveness before the deadline.

The Form 3508 Instructions , Form 3508S Instructions and Form 3508EZ Instructions provide important eligible payroll and non-payroll expense information.  In addition, you’ll find the required documents needed to verify these expenses.

In addition to the supporting documentation that is required to be submitted with the borrower's forgiveness application, there are other documents that must be maintained by the borrower.

PPP Schedule A Worksheet or its equivalent and the following:

  1. Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 1, including the “Salary/Hourly Wage Reduction” calculation, if necessary.
  2. Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 2; specifically, that each listed employee received during any single pay period in 2019 compensation at an annualized rate of more than $100,000.
  3. Documentation regarding any employee job offers and refusals, refusals to accept restoration of reductions in hours, firings for cause, voluntary resignations, written requests by any employee for reductions in work schedule, and any inability to hire similarly qualified employees for unfilled positions on or before December 31, 2020.
  4. Documentation supporting the certification, if applicable, that the Borrower was unable to operate between February 15, 2020, and the end of the Covered Period at the same level of business activity as before February 15, 2020 due to compliance with requirements established or guidance issued between March 1, 2020 and December 31, 2020 by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration, related to the maintenance of standards of sanitation, social distancing, or any other work or customer safety requirement related to COVID-19. This documentation must include copies of the applicable requirements for each borrower location and relevant borrower financial records.
  5. Documentation supporting the PPP Schedule A Worksheet “FTE Reduction Safe Harbor 2.”

Please visit the SBA PPP Loan Forgiveness Application Instructions to learn more about documentation requirements.

The Borrower must retain all documentation in its files for six years after the date the loan is forgiven or repaid in full, and permit authorized representatives of SBA, including representatives of its Office of Inspector General, to access such files upon request.

Please visit the SBA PPP Loan Forgiveness Application Instructions to learn more about documentation requirements.




















Questions about PPP Loan Forgiveness?


This information is based upon current program information as of  11.30.2021. 
Terms and conditions are subject to change.