Over the past few months, First Resource Bank has worked tirelessly to help nearly 400 small businesses in our community secure much needed relief funding in the form of a PPP Loan. With over $58 million in funds dispersed, we were able to protect the jobs and paychecks of 5,200 members of our community. Together we made this happen and as we enter the next phase of the loan process we will continue to be by your side every step of the way.
On August 10th, the SBA opened their application portal for banks to begin submitting PPP Loan forgiveness applications. If you have received a PPP Loan from First Resource Bank, we will be happy to process your forgiveness application.
How to apply for forgiveness
Borrowers must submit a forgiveness application, and in some cases supporting documentation to be eligible for loan forgiveness. The SBA has released 3 different PPP loan forgiveness applications: form 3508S (allowing streamlined loan forgiveness for loans totaling $150,000 or less), 3580EZ application and the full forgiveness application. Your loan amount, business type, and usage of funds will determine which application you need to submit. Borrowers should submit their forgiveness application to firstname.lastname@example.org
Forgiveness applications and instructions
- PPP Loan Forgiveness Application Form 3508S (for loans totaling $150,000 or less)
- PPP loan EZ Forgiveness Application
- PPP loan Full Forgiveness Application
- PPP Loan Forgiveness FAQ’s from the SBA