Forgiveness

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For the most up to date information, please visit the SBA PPP website and the US Treasury Website .

SBA Paycheck Protection Program (Updated August 4, 2020)

  • Lender has 60 days from receipt of a complete Application, including all required documentation, to decide on Forgiveness
  • Once a decision is made and documentation is uploaded to the SBA, SBA has 90 days to remit Forgiveness.
  • No loan payments required during Forgiveness process
  • You may submit for Forgiveness once your funds are exhausted
  • See Forgiveness Application(s) and instruction(s) below for documentation needed to upload

Getting Started

  1. Complete your application and organize your relevant supporting documentation 
  2. If you have not yet accessed the SECURE email the Bank sent providing you with your loan numbers required to complete your application, please email SBAPPP@FresnoFirstBank.com. 
  3. Upload your application and required supporting documentation to our online portal via DocFox as per your application instructions. If you are unable to locate the invite to our online portal, please check your junk/spam folder before contacting us at SBAPPP@FresnoFirstBank.com. If your link is expired please contact us at the same email address mentioned above. The bank will not be emailing you to provide you with a list of documentation to upload.
  4. Fresno First Bank will review your application and documentation. We will contact you if there is any missing documentation to complete your application for Forgiveness.  
  5. Once our review is complete you will be notified of the Bank’s decision on Forgiveness, at which time Fresno First Bank will submit the Forgiveness Application to SBA. 

If you have received an invitation to the portal or are preparing for forgiveness where do you start?

  • First you must decide which application is applicable for your loan forgiveness request.

  • To qualify for the 3508EZ application you must be able to check at least one of the following:
The Borrower is a self-employed individual, independent contractor, or sole proprietor who had no employees at the time of the PPP loan application and did not include any employee salaries in the computation of average monthly payroll in the Borrower Application Form (SBA Form 2483).

The Borrower did not reduce annual salary or hourly wages of any employee by more than 25 percent during the Covered Period or the Alternative Payroll Covered Period (as defined below) compared to the period between January 1, 2020 and March 31, 2020 (for purposes of this statement, “employees” means only those employees that did not receive, during any single period during 2019, wages or salary at an annualized rate of pay in an amount more than $100,000);

AND

The Borrower did not reduce the number of employees or the average paid hours of employees between January 1, 2020 and the end of the Covered Period. (Ignore reductions that arose from an inability to rehire individuals who were employees on February 15, 2020 if the Borrower was unable to hire similarly qualified employees for unfilled positions on or before December 31, 2020. Also ignore reductions in an employee’s hours that the Borrower offered to restore and the employee refused. See 85 FR 33004, 33007 (June 1, 2020) for more details.

The Borrower did not reduce annual salary or hourly wages of any employee by more than 25 percent during the Covered Period or the Alternative Payroll Covered Period (as defined below) compared to the period between January 1, 2020 and March 31, 2020 (for purposes of this statement, “employees” means only those employees that did not receive, during any single period during 2019, wages or salary at an annualized rate of pay in an amount more than $100,000);

AND

The Borrower was unable to operate during 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.

If you can check at least one of the three boxes above, complete SBA Form 3508EZ in accordance with the instructions below.
Otherwise please complete SBA Form 3508.

SBA FORM 3508 Download

SBA FORM 3508 EZ Download 

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Instructions Here Instructions Here

 

 

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Docfox FAQ's

  • You cannot upload more than one document to each category in DocFox – Please scan/merge relevant documents together or upload documents in the “Additional Document” categories.
  • Due to the system’s security features, you cannot view documents once they are uploaded.
  • After you successfully upload a document you will see the message “Being Reviewed”. You will not receive a confirmation email saying you submitted documents.

What Happens After you Submit your Application

  • Your documentation is checked. If errors are noted or questions arise when reviewing the Forgiveness documentation provided, Fresno First Bank  will contact you. 
  • You will receive a notification from the Bank within 60 days after receipt of your COMPLETED package. This notification will indicate the status of your application as either approved in whole, approved in part or denied. 
  • Once a decision has been reached, the request will be submitted to the SBA. SBA is then allotted 90 days to review the request and send the forgiven amount to the Lender to settle the loan balance.  
  • The SBA and US Treasury reserves the right to audit any SBA PPP Loan application. If your loan is being audited by the SBA you will be informed by the Lender and additional information will be requested at that time. If your loan is being audited, a decision on forgiveness will be delayed.  
  • Please be advised that you are required to retain all PPP Loan records for up to 6 years after the loan is forgiven or paid in full.