Paycheck Protection Program (PPP) Loan Forgiveness Guidance:
Currently, we are not accepting PPP Loan Forgiveness applications. We continue to monitor potential legislative changes, which could impact forgiveness guidance and how processing is handled. We will communicate with our borrowers when we are ready to accept applications for forgiveness. In the meantime, continue to prepare for submitting your forgiveness application by having the proper documentation in place. You can view all of our updates on loan forgiveness by clicking the ‘Forgiveness Updates’ button in the ‘PPP Loan Forgiveness’ section.
Please review the two applications and instruction sheets to determine which applies to your business and what documentation is required. FNBSF has created a document checklist for each application type to assist you in preparing your required documentation. Below, click the ‘SBA Applications’ button to view the two applications, their instruction sheets, and the document checklists. The document checklist for the standard application can also be found here and the checklist for the EZ application can also be found here. Please note that potential legislative changes could include changes to the aforementioned applications, instruction sheets, and document checklists.
On Friday, June 5, Congress approved the Paycheck Protection Program Flexibility Act of 2020. This bill is intended to provide businesses with more time and flexibility to keep their employees on payroll and to support their continued operation. One of the changes is an extension of the Covered Period from 8 weeks to 24 weeks. We continue to receive updated guidance for borrowers and lenders as to how these changes will be implemented. Continue to monitor this website for the latest changes to the program.