PPP Loan Forgiveness

PPP Loan Forgiveness through the SBA Direct Forgiveness Portal
(For loans $150,000 or less)

We are pleased to inform you that the Small Business Administration is making it easier to complete your PPP loan forgiveness through its new PPP Direct Forgiveness Portal. The portal provides a single secure location for you to apply for loan forgiveness using an electronic equivalent of SBA Form 3508S. As a borrower with a loan of $150,000 or less, you can apply for forgiveness directly with the SBA. The PPP Direct Forgiveness Portal can be accessed at http://directforgiveness.sba.gov.

For an optimal experience, it is recommended that you use either Microsoft Edge or Google Chrome for a browser. A new registration will be required in order to use the new PPP Direct Forgiveness Portal. To register, simply click the Register to Start Your Request button. Upon registration, you will receive an email to verify your email address, as well as a second email containing a link to provide access to the portal. Should you require assistance, you may contact the SBA’s PPP Direct Forgiveness Hotline at 1.877.552.2692.

PPP 3508EZ Forgiveness Application
(For loans over $150,000)

To determine which PPP loan forgiveness application you should complete, please refer to the PPP Loan Forgiveness Application and Instructions – Form 3508EZ.

Note: If you are able to check one of the boxes on the Checklist for Using SBA Form 3508EZ page then you may use this application.

Here’s what you will need in order to begin the process of applying for forgiveness of your PPP loan.

• Completed PPP Loan Forgiveness Application and Instructions – Form 3508EZ.
• You must submit all supporting documentation with your application.
• The SBA loan # and EIDL application # may be left blank.
• All the required information can be found in the documents you received at your loan closing.  

Please send your completed PPP loan forgiveness application along with all supporting documentation to PPPForgiveness@fsbnh.bank

PPP 3508 Forgiveness Application
(For anyone who does not meet the qualifications for 3508S or 3508EZ)

The PPP Loan Forgiveness Application and Instructions – Form 3508 is to be used by those businesses who do not meet the qualifications for the 3508S or 3508EZ forms. 

• PPP Loan Forgiveness Application and Instructions – Form 3508
• You must submit all supporting documentation with your application.
• The SBA loan # and EIDL application # may be left blank.
• All the required information can be found in the documents you received at your loan closing.

Please send your completed PPP loan forgiveness application along with all supporting documentation to PPPForgiveness@fsbnh.bank

Here are some links to a few documents containing updates on the SBA’s PPP Loan Forgiveness Program.

• SBA Interim Final Rule – Business Loan Program Temporary Changes –
  Treatment of Owners & Forgiveness of certain Nonpayroll Costs – added 8.26.2020
• SBA Instructions for Forgiveness App – updated 9.1.2020
• SBA PPP Loan Forgiveness Interim Final Rule
• FAQs on PPP Loan Forgiveness – updated 8.11.2020

If you have any questions which may not have been answered in the aforementioned materials, then please contact the SBA directly at PPPForgivenessRequest@sba.gov. They will be able to answer any further questions concerning your PPP loan forgiveness application.

Release of PPP Borrower Information

On December 1, 2020, the Small Business Administration released public data about Paycheck Protection Program borrowers. The reported data included the borrowers’ names, addresses, loan amounts and the names of their PPP lenders. This action was brought forth by a court order following lawsuits initiated by media organizations seeking the data. We want you to know that Franklin Savings Bank did not publicly disclose your PPP loan data and played no part in the court decision. Our commitment to protect your privacy is paramount. We adhere to all applicable laws and regulations when it comes to protecting our customer’s personal information.

If you have any questions which may not have been answered in the aforementioned materials, then please contact the SBA directly at PPPForgivenessRequest@sba.gov. They will be able to answer any further questions concerning your PPP loan forgiveness application.