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Paycheck Protection Program (PPP) Loan Forgiveness

We are pleased to assist you on the loan forgiveness step of the SBA Paycheck 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.

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

To begin the process, we recommend that you print this checklist along with a copy of the relevant Application and instructions. In addition check out these application tips for all borrowers. As a reminder, applying for loan forgiveness is an acknowledgement that you do not intend to pursue an increase to your existing PPP loan. Please read the instructions thoroughly, and work through the entire Application before beginning the submission process outlined below.

 

If you need assistance completing the Application, we recommend contacting your accountant or tax advisor. As always, you may contact your Baker Boyer Advisor with any questions.

OVERVIEW OF ONLINE APPLICATION AND SUBMISSION OPTIONS

Round 1: Submission of Already Completed Application

Round 1 may be used to submit either the FULL, EZ, or SBA Form 3508S Application. The process includes uploading your already completed Application (in PDF) and uploading all supporting documents. Links to the applications are below:

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 a 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.

Baker Boyer 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”).