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PPP Round 1 Forgiveness

If you received a PPP loan from Tri Counties Bank in 2020, you should already have received a link to our online application portal. To request a new link to the portal, please call 1-866-908-7083.

New Legislation Regarding PPP Loan Forgiveness

The Consolidated Appropriations Act of 2021 includes provisions that further simplify the PPP loan forgiveness application process for loans of $150,000 or less. Our online application portal has been updated to accommodate the recent updates.

  • You have up to ten months after the end of your covered period to apply for loan forgiveness before loan payments are due. Your maximum covered period is 24 weeks from your PPP loan origination date. Please consult with your legal and tax advisors to determine the best time for you to apply for loan forgiveness.
     
  • For more information on PPP loan forgiveness, visit the SBA's website.

If you have any questions regarding your loan forgiveness application in progress, please call 1-866-908-7083.

Loan Forgiveness Required Documents

The links below to the SBA's instructions for loan forgiveness are available as a reference as you prepare supporting documentation. Please note you will be required to apply for loan forgiveness through our online application portal.

SBA’s Forgiveness Form 3508S
Form 3508S applies only to borrowers with PPP loan amounts of $150,000 or less.

SBA's Standard Forgiveness Application

SBA's Forgiveness Form 3508EZ
Form 3508EZ applies to borrowers who meet any one of these three criteria:

  1. Applied for the PPP loan as self-employed, an independent contractor or a sole proprietor with no employees.
     
  2. Did not reduce salary or wages for any employee by more than 25%, and did not reduce the number or hours of their employees (excluding laid-off employees who refused an offer to return).
     
  3. Did not reduce salary or wages for any employee by more than 25% during the covered period and experienced reductions in business activity as a result of health directives related to COVID-19.