UPDATED APRIL 27, 2021 AT 3:00 PM
SBA Guidelines for PPP Loan Forgiveness are subject to change. This page will be updated upon issuance.
Please review the following information regarding the status of current forgiveness applications.
The new SBA PPP forgiveness application forms (SBA Form 3508, 3508S, 3508EZ) became effective on March 5, 2021 and available in our PPP application platform. Depending on when you received your 2020 PPP loan and the 8 – 24 week covered period you elect, you may need to start making monthly payments as early as April 2021 if you haven’t already submitted your forgiveness application.
If your PPP loan is up to $150,000 (SBA Form 3508S):
- The streamlined SBA Form 3508S forgiveness application includes forgiveness of new eligible non-payroll costs and does not require submission of supporting documentation. However, borrowers are responsible for retaining all required documentation as indicated in the specific SBA Form 3508S forgiveness application instructions.
If your PPP loan is over $150,000 (SBA Form 3508 or SBA Form 3508EZ):
- The new SBA Form 3508 and SBA Form 3508EZ forgiveness applications include forgiveness of new eligible non-payroll costs.
- Supporting documentation as required in the specific SBA forgiveness application instructions must be uploaded to the portal.
- Borrowers are responsible for retaining all additional required documentation as indicated in the specific SBA forgiveness application instructions.
You may access our online application platform to start, continue or determine the status of your forgiveness application using the link below, which works best in Google Chrome.
You will need your email address, business EIN and Authorized Signer's SSN in order to authenticate access into the application portal.
During the forgiveness process, you may receive communication from the following email addresses:
- SBAPPPForgivenessCommunication at lakelandbank dot com
- News at LakelandBank dot com
- PayrollProtectionProgram at ExpressBankLoan dot com
- SBAPPPForgiveAdmin at LakelandBank dot com
- PPPSupport-Lakeland at Support dot BDO.com
- SBAPPPOriginationCommunication at lakelandbank dot com
Please be alert for any scam or fraudulent emails spoofing the Paycheck Protection Program or the Small Business Association.
Questions? View our tutorial videos to learn more about the online application process.
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As debt forgiveness is the key feature of the PPP loan, we wanted to ensure that use of the loan proceeds allows borrowers to remain fully eligible to maximize this opportunity. The program has specific requirements regarding Full-Time Equivalent and salary levels for employees. The SBA has advised that a borrower’s forgiveness opportunity may be reduced if its full-time headcount declines, or if salaries and wages decrease. The funds must have been used for payroll costs, mortgage interest, rent, utility payments and other eligible non-payroll costs over the Covered Period in order to be considered for forgiveness.
In your application for loan forgiveness, you must document the following:
Payroll costs:
- Salary, wages, commission or similar compensation (recent SBA guidance states that payroll costs include all cash compensation, including a housing stipend or allowance)
- Payments for vacation, parental, family, medical or sick leave
- Allowance for dismissal or separation
- Payments for the provision of group health care benefits, including insurance premiums
- Payments for retirement benefits
- State or local payroll taxes
Non-payroll costs:
- Interest payments on a mortgage incurred in the ordinary course of business on real or personal property and that was in existence on Feb. 15, 2020
- Rent payments under leasing agreements in existence on Feb. 15, 2020
- Utility payments for electricity, gas, water, transportation, telephone or internet for which service was in existence on Feb. 15, 2020
- NEW Economic Aid Act application forms will include the following additional eligible costs:
- Covered operations expenditures
- Covered property damage costs
- Covered supplier costs
- Covered worker protection expenditures
Tips for completing your SBA PPP Loan Forgiveness Application are located here.
Although generally described above, we encourage you to refer to the Interim Final Rules governing the program and SBA’s Frequently Asked Questions to ensure adherence to the program’s forgiveness eligibility requirements.
All loans above $2 million will be audited by the SBA to ensure that they were made to eligible borrowers in need. All other loans are subject to audit by the SBA.
The U.S. Small Business Administration has been ordered by a federal judge to disclose the business name, address, and precise loan amounts for all PPP loan recipients. This information is being provided solely by the SBA.
