Round 2 Recipients: Now accepting PPP Loan Forgiveness applications - apply today!

Forgiveness Details

The CARES Act was enacted to provide immediate assistance to individuals, families, and organizations affected by the COVID-19 pandemic. Among the provisions contained in the CARES Act are provisions authorizing SBA to temporarily guarantee loans under the Paycheck Protection Program (PPP). Loans under the PPP will be 100 percent guaranteed by SBA, and the full principal amount of the loans may qualify for loan forgiveness.

The lender has 60 days from receipt of a complete application to issue a decision to SBA.

SBA will, subject to any SBA review of the borrower’s loan(s) or loan application(s), remit the appropriate forgiveness amount to the lender, plus any interest accrued through the date of payment, not later than 90 days after the lender issues its decision to SBA.

New SBA Direct Process
Arbor Financial is partnering with SBA on an SBA Direct Process, in which SBA will reach out to PPP borrowers who have not received forgiveness on either first round or second round loans to assist with the forgiveness process. The SBA will send a partially filled forgiveness form to you and provide a live helpline to assist with any questions that may arise during the process. Be on the lookout for communication from SBA on this, which may come via email, call, or text.

Helpful Tips

  • When filling out the application, please refer to the PPP Loan Note that you DocuSigned when you received your loan with us for important information.
  • The SBA PPP Loan number is the SAME as the Lender PPP Loan number.
  • Please keep in mind that we have 60 days from receipt of a complete application to issue a decision to SBA.
Remember: Payments for First Round PPP borrowers (Spring/Summer 2020) begin August 2021.

More Tips & Resources  View FAQs

Forgiveness Application

The application process has two steps:

1. Fill out the application.

SBA Form 3508S Paycheck Protection Program Forgiveness Application

This application should fit most borrower's needs; however, if it does not, click here to review all forgiveness applications.

2. Once you have completed the application, please use our Secure File Upload to upload the documents by clicking the button below.

IMPORTANT: Be sure to choose from the "To" drop-down menu.


Due to the volume of loans we are processing and our desire to help as many small businesses as possible survive and thrive in these difficult times, we ask that our borrowers direct all questions about forgiveness eligibility to their financial professional – your CPA, attorney, bookkeeper, etc. Thank you for your understanding

Common Questions and Answers

To help clarify information and assist our borrowers in accurately filling out the forgiveness form.
A: We cannot process an application that is not fully complete – each box at the top of the form needs to be filled in, and each line needs to be initialed as required on the form. Without a complete form (all areas filled in), we cannot process it and will return it to you for further completion.
A: Due to COVID restrictions, most of our PPP borrowers signed their PPP notes through their email. Check your email from last spring and summer around the approximate time you requested and received the funds in 2020. There should be a copy in your email.
A: Look on the completed PPP note for the PPP loan number – that number is both the Arbor Financial (lender) loan number and the SBA loan number.
A: When filling in the loan number, since the box only allows 10 digits, omit the hyphen in the loan number.
A: The date of the note was the same day your loan was disbursed, so use the note date for that box.
A: You only need to upload the fully completed and signed Forgiveness Application. Please retain any other documentation for your records, and do not send with the application.

Please note: If you are making a correction to an application, and resubmitting via the secure upload, please make mention that it is a revision in the comments of the upload.
A: Unfortunately, we cannot perform any accuracy tests or verifications on your form. Please note that when you sign the form, you are legally claiming the information on it is correct, so do so carefully. If you have questions about whether you calculated the forgiveness amount correctly, please contact your accounting professional (CPA, bookkeeper) for their assistance in this matter, or consult the later pages of the form for some direction on this matter. For various reasons, credit union staff cannot perform that function for you.
A: See the subsequent pages of the form for an explanation of each input box. For instance, questions about the covered period are explained on page 3 of the form. Almost any question about how to calculate forgiveness, etc. is answered by SBA in the later pages of this form, thankfully.

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