PPP Forgiveness Updates
S M A L L B U S I N E S S R E S O U R C E S
(Updated Monday, August 28, 2020)
Our PPP Forgiveness Application portal is available in beta mode
What does "beta" mean?
"Beta" means our online portal can accept forgiveness applications at this time though a connection to the Small Business Administration's (SBA) platform is still being completed. (The connection with SBA is expected soon.)
We can accept and review your Paycheck Protection Program (PPP) Forgiveness Application with you (online or hard copy) if you are able to take advantage of an 8 week covered period or you have reached the end of a 24 week covered period. (Not sure? Download and review Instructions at the links below).
All work within the portal will be saved (ie: data, documents, etc.) so you will be able to log back in anytime to review and make changes until you are comfortable and ready for us to submit your forgiveness application and the SBA connection complete.
If you would like to begin the forgiveness process in beta mode, please contact your Prime Meridian Bank Relationship Manager who will email you a link to the portal and help you start the process.
Again, we are not yet submitting applications to the SBA.
If I do not take part in the beta version, will Prime Meridian Bank notify me when the portal is ready to go?
Yes. Once our online portal and the SBA connection is confirmed, all PPP borrowers will receive an email invitation to start the forgiveness process. We anticipate this being mid-September, 2020.
Where can I find the application(s) for PPP Loan Forgiveness if I want to submit a paper application?
Below download either the EZ or Full version. Reminder: our online process will be paperless and is based on the same forms:
- "3508 EZ" forgiveness application and instructions
- "3508 Full" forgiveness application and instructions
A current version of the Interim Final Rule -- that aligns prior SBA guidance with the PPP Flexibility Act -- is also available.
Updated FAQs regarding PPP are available by clicking here.
Is Prime Meridian Bank accepting paper forgiveness applications for PPP?
Yes, with the following disclaimer: At this time you may submit your PPP Forgiveness Application to us in paper form (ie: hard copy, PDF, etc.) and we can upload the information to the SBA. However, as of August 28, 2020, the SBA is not processing them.