PPP Loan Forgiveness Resource Center

To assist you in completing your forgiveness application, we have several resources available. This includes two blogs that we encourage all PPP borrowers to review prior to beginning your forgiveness application. Our Best Practices blog outlines key elements to help you prepare for the forgiveness application while the PPP Flexibility Act blog helps you understand the changes implemented by the passage of this Act. 

It's important to note that the deadline for submitting the forgiveness application has been extended until 10 months from the end of your “covered period” (meaning either 8 or 24 weeks from the date of disbursement). With this extension, we recognize that your loan documents may require your first loan payment prior to you filing for forgiveness. If this applies to you, please contact your loan officer or our customer support team at 877.788.0288 so we may take the necessary steps to amend your loan documents to provide you additional time. The first payment date (in case your loan is not fully forgiven) is being deferred until the SBA responds. In addition, the PPP Flexibility Act allows you to use this time to bring your employment headcount back up to the level it was prior to February 15, 2020. We strongly encourage you to take advantage of this extended time to ensure you have everything ready before submitting your forgiveness application. 

For businesses that obtained PPP financing through Peoples Bank of Alabama, we have invested in specialized software to streamline the forgiveness process. The Sageworks software makes submitting your documentation simple and secure through a personalized loan portal. The secure portal will remain open for 90 days so you can start and stop the process anytime during this window. To assist you, we've created a Borrower Job Aid that gives you more detail on how to complete the application. For detailed information on completing the Schedule A worksheet, please reference our Schedule A Instructions. Should you have questions, please fill out a PPP Loan Question Form or contact your local loan officer.  If you are ready to begin the forgiveness process, please follow the steps listed below:

  1. Complete the form to the right
  2. Once received, we will send you an email from noreply@sageworks.com which will contain a personalized URL to your PBA Sageworks portal page
  3. Follow the URL to open the personalized Secure portal page in your web browser
  4. Create a unique PIN between 6 & 12 characters (be sure to remember this PIN so you can come back to the portal to complete the application or upload documents)
  5. Complete and submit the secure forgiveness application (Please review the Borrower Job Aid and Schedule A Instructions for a step by step guide)

Obviously the goal for everyone is to meet the SBA’s conditions for full forgiveness.  This has been a moving target as the SBA continues to evaluate and tweak its guidelines.  We have learned a few things the hard way and want to help you avoid situations that may create problems down the road. We've compiled these lessons learned in this resource: PPP Forgiveness - What we have learned

We understand you will be anxious to learn if your application is complete and qualifies for full forgiveness. Our team will work through applications as quickly as possible, but depending on volume it may take several weeks before we are able to process your application. Once we have completed our review of your forgiveness application and supporting documentation, you will receive a signature request email to eSign your 3508S, 3508EZ, or 3508 form through Adobe Sign. We will then submit your forgiveness request to the SBA for approval. The latest guidance advises that the SBA has 90 days from receiving the bank's recommendation of forgiveness to make a decision. Lastly, the SBA requires that you keep your application package for six (6) YEARS.  Please keep all of your information filed in a safe place for future reference.

Borrower Forgiveness Request Form

Borrower Job Aid

A step by step guide to completing your PPP loan forgiveness application through our secure portal

Schedule A Instructions

For borrowers completing the Schedule A worksheet, click below for detailed instructions on how to complete this worksheet

General Loan Forgiveness Guidelines

Excerpts from the Interim Final Rule issued 6-25-2020

Additional PPP Forgiveness Information

Learn more on the forgiveness process

Borrower's Short Version

Summary of the requirements and eligibility issues for the forgiveness process