Complete your PPP loan forgiveness application and submit supporting documents to Vast Bank.
Last updated: March 15th, 2021
Important Tips & Info
- Get a professional to help you. When completing the application, we strongly encourage you to consult with your legal counsel and/or CPA or accountant.
- Include your PPP Loan number. While completing your application, if you do not know your PPP loan number, we can add it for you during our review process, or you can find it on your PPP Promissory Note. It is referred to as “SBA Loan Number” on the top portion of the document.
- Include your NAICS code. The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments. For more information about NAICS codes. visit https://www.census.gov/naics/.
- What happens after I submit my application? Once we receive your completed forgiveness application, which must include supporting documentation for loans exceeding $150,000, we will then review it internally to confirm your calculations. The bank is allowed up to 60 days for this review process. Once the bank’s review process is completed, your forgiveness application will then be submitted to the Small Business Administration (“SBA”) for approval. The SBA has 90 days to review the application to make a determination on loan forgiveness.
- Helpful tools to help you complete your application. The following online tools may be helpful in completing your Forgiveness Application:
- Option 1: https://ppp.bank/
- Please note that this website will not save any application information. You must fully complete the application in one sitting.
- You will need your PPP, or “SBA” loan number for this site.
- Option 2: https://www.pppforgivenesstool.com/
There are three Forgiveness Applications. Please review the information below and at the links provided to determine which application is appropriate for your PPP loan.
If your loan is $150,000 or less
If your PPP loan is $150,000 or less, your Forgiveness Application can be found here, along with instructions for completing the form.
3508EZ Loan Application
The 3508EZ application can be found here, along with instructions for completing the form. Page 5 of this application provides eligibility guidance for using this application form.
If you are not eligible to use either of the shortened applications above, the standard application can be found here, along with instructions for completing the form.
Do you still have questions? For the most up-to-date guidance and additional resources, please consult the U.S. Small Business Administration website.
Note: We strongly encourage you to consult with your legal counsel and CPA or accountant when filling out the application.
How to Submit Your Forgiveness Application
Once you have completed the appropriate Forgiveness Application and have compiled all supporting documentation, you can submit your application using our secure link.
Ready to submit your forgiveness application? Use the following link to securely submit your application. Submit My PPP Loan Forgiveness Application >