First State Bank is ready to process your Paycheck Protection Program (PPP) Loan Forgiveness Application. If you received a PPP Loan through us, you will need to submit an application for forgiveness and supporting documentation to us in order for your loan to be forgiven. There are three types of applications.
- 3508S – This application is the simplified form that can be used for all PPP loans of $150,000 or less. No supporting documentation is required to be submitted with the forgiveness the application, unless the SBA conducts a PPP loan review.
- 3508EZ – This application is for PPP loans over $150,000 that meet other guidelines including maintaining workforce and wages during the PPP Covered Period. Supporting documentation is required to be submitted with the forgiveness application. Please refer to the application for further details.
- 3508 – This application is for PPP loans over $150,000 that do not meet the guidelines to complete the 3508EZ. This is the most detailed forgiveness form, and requires the most supporting documentation. Supporting documentation is required to be submitted with the forgiveness application.
If you are ready to apply for forgiveness, please contact us at ppp@1st.bank to begin your forgiveness process.
Please note, we cannot process PPP Forgiveness Applications if you received your PPP funds from another bank.