We Are Accepting PPP Loan Forgiveness Applications
The Deadline for Applications for Forgiveness of Round 2 of the Paycheck Protection Program (PPP) Is Rapidly Approaching
The deadline to apply for forgiveness of the Round 2 (or Sencond 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.
As of today, there are currently three different PPP loan forgiveness applications:
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.
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
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.
Your forgiveness 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.
