Paycheck Protection Program Loans Round 2

We Are Accepting PPP Loan Forgiveness Applications

The Deadline for Applications for Forgiveness of Round 1 of the Paycheck Protection Program (PPP) Is Rapidly Approaching

 

We’re proud to have assisted customers with over $40,000,000 during the 1st round of Paycheck Protection Program (PPP) loans. The deadline to apply for forgiveness of the Round 1 (or First Draw) PPP loans is approaching. We encourage you to submit the application and documentation soon. If you do not apply for forgiveness of the PPP loan within 10 months after the last day of the covered period, then you will begin making payments on the loan with a 1% interest rate. Links to the applications and instructions for submitting the documentation are available in the Quick Links section of this page.

Please send any questions you have to PPP@fnbtx.com. Multiple users will monitor this inbox and respond to questions as quickly as possible. 

Thank you for trusting First National Bank with your PPP loan. We look forward to continuing to serve your banking needs.

 

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  • Forgiveness of Your PPP Loan with First National Bank

    As of today, there are currently three different PPP loan forgiveness applications:

    1. SBA Form 3508S (Most Common) Use this application if your loan amount is $150,000 or less. This form will be the main form for the majority of borrowers. The instructions for the 3508S form include the detail on supporting documents that must be submitted to show proof that the funds were used for acceptable PPP purposes.
    2. SBA Form 3508EZ Use this application if you are able to answer “yes” to any of the questions in the first section of the Application Form EZ Instruction form on page 5 of PDF. The instructions section has 2 questions to answer that determine your ability to complete Form 3508 or Form 3508EZ and information that will need to be submitted with each loan forgiveness application
    3. SBA Form 3508 Use this application if you are unable to answer “yes” to any of the questions in the first section of the Application Form Instruction form. The instructions for Form 3508 include guidance on calculating FTE’s and preparing schedule A table 1 and table 2. It also includes instructions for calculating the FTE Reduction Quotient

     

    Once you have completed the appropriate forgiveness application, please:

    ● Print the form.

    ● Sign and initial the form.

    ● Scan the form.

    ● Save to your computer.

    ● Name your files with your company name and the type of document you are sending.

    Examples:

    ABC Company Forgiveness Application

    ABC Company Payroll Documentation

    ABC Company Business Rent Expenses

    ● Save in PDF format.

    Your application, submission of required documents, and follow-up correspondence should be submitted to the bank through our secure ShareFile Portal accessed by clicking here. For instructions on how to submit documents through the secure portal, click here.

  • First Draw PPP Loans
    • Borrowers who meet all SBA PPP eligibility requirements are eligible to apply for a PPP loan even if they did not receive a PPP during the initial offering in 2020.  
  • Second Draw PPP Loans
    • In addition to providing for new PPP loans for first-time borrowers, the legislation also allows certain existing PPP borrowers to receive a "second draw" PPP loan if they have used all of their first loan (or will have by the time of disbursement of the second loan), have no more than 300 employees and can demonstrate a year-over-year revenue reduction of at least 25% measured using either corresponding calendar quarters or annually.
  • To Apply For A PPP Loan at First National Bank

    We are no longer accepting applications at this time. If the SBA reinstates the program, we will provide instructions on applying.

  • Our PPP Loan Program is Digital
    • Your application, submission of required documents, and follow-up correspondence should be submitted to the bank through our secure ShareFile Portal accessed by clicking here. For instructions on how to submit documents through the secure portal, click here

We’re Here to Help

Our entire team is ready to help business owners like you with this new round of PPP lending and with any other business needs you may have. If you have any questions along the way, please email the First National Bank PPP Team at PPP@fnbtx.com. If you know of any other businesses that may be struggling due to the current economic conditions and would be interested in learning more or applying for a PPP loan, please send them our way. We’re here to help.