old Forgiveness For SBA/PPP Loan amounts of $50,000 or less

Business Loan Assistance

We are pleased to assist you on the loan forgiveness step of the SBA Payroll Protection Program (PPP).   As you know, the PPP allows for all or a portion of the loan and accrued interest to be forgiven if the proceeds are used for eligible payroll and certain non-payroll costs.  

On June 16, 2020, the SBA, in consultation with the Department of the Treasury, released a revised PPP loan forgiveness application (“Application”) which implements the changes from the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020.  

As a result of these releases, we are now accepting Applications for loan forgiveness.

For PPP loan amounts of $50,000 or less:

On October 8, 2020, the SBA in consultation with the U.S. Treasury, released a “simpler” loan forgiveness application for PPP loans of $50,000 or less.  The new application also makes borrowers for PPP loans under $50,000 exempt from: (1) any reduction in forgiveness based on full-time equivalent (FTE) employee reductions; and (2) any reduction in forgiveness for any salary or wage reduction.  

Borrowers must still complete a one-page application which includes certifications on the use of the funds.  

Click here to view the simpler loan forgiveness application (“Form 3508S”)

In addition, documentation is still required to be submitted for payroll and nonpayroll cost validation.   

here to view the instructions for completing the simpler loan forgiveness 


NOTE:  This is not “blanket” or “automatic” forgiveness.  Borrowers must still provide support for their forgiveness request.  

All 3508S applications should be submitted using “OPTION 3” on the Bank’s website – which is the option for borrowers to file a scanned application and attach required documentation.

If you need assistance completing the Application, we recommend contacting your accounting or tax advisor.  As always, you may contact your Bank relationship officer with any questions.

To begin the process, we recommend that you print a copy of the relevant Application and instructions.  Please read the instructions thoroughly, and work through the entire Application before beginning the submission process outlined below.

In order to expedite the processing of your Application, we strongly encourage that you submit your Application using the Bank’s online process.  While the Bank will accept email or paper Applications, these are not preferred methods and may delay the processing of your Application. 



Before starting the online process, we recommend that you have all of the information required in the Application, including all supporting documentation.  A list of the potential items needed for your Application can be found here.  Once you begin the application process, you will have the option to save your work and resume at a later time. 


There is one option to submit your Application online:

Option:  Submission of Already Completed Application

To Complete Option 3 Click Here

This option may be used to submit either the FULL, EZ or SIMPLE Application.  The process includes: 

  • Uploading your already completed Application (in PDF)
  • Uploading all supporting documents

Upon submission through any of the above options, you will receive an email confirmation that your Application has been received.  Processing time will be dependent on the volume of Applications received by the Bank.  The CARES Act allows the Bank 60 days to make decision on the loan forgiveness amount once a complete Application has been received.  The amount of loan forgiveness is not final until approved by both the Bank and the SBA. 

The Bank has retained a third-party to assist in processing your Application.  You may receive emails from PPPLoanTeam@ProBank.com requesting additional information and/or clarification.  To ensure emails do not end up in your Spam or Junk folder you may want to add the domain name (probank.com) and the above email address to your “Approved Senders List” (also known as “white-listing”).


Application Tips for All Borrowers

We recommend the following tips for ALL borrowers submitting loan forgiveness applications:

  • Select a 24-week Covered Period – by doing so, this allows you to include more costs.  Applications may be submitted at anytime prior to 24 weeks but you should still input 24 weeks as your Covered Period.  In addition, owners can receive the full 2.5 months of their 2019 income (up to $20,833) if the 24-week Covered Period is selected
  • Start with Payroll Costs – if your payroll costs exceed your loan amount you do not need to include other nonpayroll costs.  In addition, if cash compensation exceeds your loan amount you do not need to include health insurance or retirement costs
  • Provide Owner Tax Returns – all owners who are included in payroll costs must provide 2019 tax documents (W-2, Schedule C, K-1, etc.)  
  • Provide Complete Payroll Documentation – payroll must be supported by the following documents for the Covered Period:
    • Forms 941 for each quarter in 2020
    • Third-party payroll report OR 
    • Internal payroll report plus bank statements validating payment of payroll
  • Provide Complete Documentation for All Other Costs – generally all other costs need to be supported by:

    • invoices, receipts AND validation of payment (bank statements, cancelled checks, etc.)
    • Mortgage, rent, lease and utility payments must also include documentation that the obligation was in existence prior to February 15, 2020 (bank statements, cancelled checks, lease agreements, etc.)



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