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To Our Small Business Clients 

 The SBA Paycheck Protection Program Loan application deadline to apply was August 8th, 2020. If you are ready to apply for forgiveness you can do so below!

SBA Paycheck Protection Program Loan and Forgiveness Guidance:

PPP Loan Forgiveness Webinar

PPP Loan Forgiveness Portal

PPP Loan Forgiveness Webinar FAQ's

PPP Loan Forgiveness Webinar | August Update

Clarification on Pro-Rating Compensation Cap upon Early Forgiveness Application

The Small Business Administration released a three-page “EZ” Paycheck Protection Program loan forgiveness application requiring less documentation and fewer calculations than previously required. Form 3508EZ applies to borrowers who meet any one of these three criteria:‌

  • Applied for the PPP loan as self-employed, an independent contractor or a sole proprietor with no employees.
  • Did not reduce salary or wages for any employee by more than 25%, and did not reduce the number or hours of their employees (excepting laid-off employees who refused an offer to return).
  • Did not reduce salary or wages for any employee by more than 25% during the covered period and experienced reductions in business activity as a result of health directives related to COVID-19.

PPP Loan Forgiveness Application Form 3508S

PPP Loan Forgiveness Application Form 3508S Instructions For Borrowers

SBA PPP Loan Forgiveness Application Form 3508EZ*

SBA PPP Loan Forgiveness Application Form 3508EZ Instructions For Borrowers

If your business does not fall into one of the three categories above, the following needs to be completed:

SBA PPP Loan Forgiveness Application Form

SBA PPP Loan Forgiveness Instructions

*Please note that we are working towards an online portal for submission of the application and supporting documents that will be used for forgiveness determination in accordance with information from the SBA.  However, we wanted to ensure that you had these documents for planning purposes.  Additional guidance is still anticipated.

PPP--Loan-Forgiveness-FAQs | October 13th

SBA PPP Frequently Asked Questions

SBA PPP Interim Final Rule - October 8th

SBA PPP Interim Final Rule - August 24th

SBA PPP Interim Final Rule - August 11th 

SBA PPP Interim Final Rule - June 22nd
SBA PPP Interim Final Rule - June 17th

SBA PPP Interim Final Rule - Loan Forgiveness

SBA PPP Interim Final Rule - Loan Review Procedures and Related Borrower and Lender Responsibilities

There have been a number of recent changes to the Paycheck Protection Program, particularly as relate to the forgiveness of the loans made through the program.  Fortunately, these changes are ones that are favorable to borrowers, and should result in forgiveness that is easier to obtain than that originally legislated and promulgated.

Major points regarding the changes have been released by the SBA:

  • The guidance extends the loan forgiveness period from 8 to 24 weeks after loan disbursement.  Borrowers who have already received PPP loans retain the option to use the eight-week covered period.
  • The guidance lowers the requirement for payroll costs for loan forgiveness from 75% to 60%. If a borrower uses less than 60 percent for payroll, the borrower remains eligible for partial loan forgiveness.
  • The guidance provides loan forgiveness safe harbor based on reductions in full-time equivalent (FTE) employees for borrowers who are unable to return to the same level of business at which they were operating before February 15, 2020 due to compliance with COVID-19 requirements or guidance issued between March 1, 2020 and December 31, 2020 by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration.
  • The guidance provides loan forgiveness safe harbor based on reductions in FTE for borrowers unable to rehire employees or hire similarly qualified employees for unfilled positions by December 31, 2020.
  • The guidance increases to 5 years the maturity of PPP loans approved by SBA (based on the date SBA assigns a loan number) on or after June 5, 2020.
  • The guidance extends the deferral period for payments of principal, interest, and fees on PPP loans to the date that SBA remits the borrower’s loan forgiveness amount to the lender (or, if the borrower does not apply for loan forgiveness, ten months after the end of the borrower’s loan forgiveness covered period)



SBA Interim Final Rule - April 2nd

SBA Interim Final Rule - April 14th

SBA Interim Final Rule - April 24th

SBA Interim Final Rule - April 28th - Seasonal Employees

SBA Interim Final Rule - April 28th - Disbursements

SBA Interim Final Rule - April 30th  

Interim Final Rule on Additional Revisions to First Interim Final Rule - June 12th



Be diligent and avoid scams. Fraudsters have already begun targeting small business owners during these economically difficult times. Don't release any private information (especially Social Security numbers, credit card information, or banking information) in response to an unsolicited call, letter, or email.

Please continually visit our website for updates on SBA loans and how we are helping.

  This is such a stressful time for us all, and especially difficult as there are health concerns, financial concerns and also emotional challenges during this time of social-distancing. We are hopeful that we can help ease your burden by leading you through the PPP loan forgiveness process. We are all in unchartered territory with the launch of this program and one of our greatest fears is that there will be issues with the process that are beyond our control. We will have to rely on the government for the process and for the guidance relative to how the program is to be administered by our bank.

At Andrew Johnson Bank, helping friends is our business.


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