August 10, 2020
The Small Business Administration is now accepting PPP Forgiveness Applications from lenders and has provided two applications for forgiveness. Many small businesses will be eligible to apply using the simplified application on SBA Form 3508EZ. If your business does not meet one of the three qualifications to use the abbreviated application (Form 3508EZ), please refer to the long form application. Links to both applications, as well as associated instructions, are included below.
- SBA Form 3508EZ (Click here for instructions)
- Long Form Application (Click here for instructions)
LNB is now accepting applications from our borrowers. Please submit the applicable SBA Forgiveness Application and required supporting documentation as outlined in the application to sba@bankwithlnb.com. Using the designated email address is the only way to submit your application for forgiveness; please do not drop off paper copies directly to our branches. LNB will review your information and send to SBA to request forgiveness. The SBA then has 90 days to remit the appropriate forgiveness amount. A representative from LNB will keep you informed as your forgiveness request moves through the process.
Click here for the most recent FAQ provided by the U.S. Treasury Department, which may help answer commonly asked questions regarding forgiveness.
We are happy to help with any questions you may have via phone at (315) 781-5016.