How to Apply for PPP Loan Forgiveness with Vast Bank
Did you receive PPP loan funds from Vast Bank? Don't miss out miss out on PPP loan forgiveness. Submit your application as soon as possible to avoid payments in the future.
We've created this resource to help Vast Bank clients navigate the PPP loan forgiveness application process. A few tips when completing your application:
- When completing the application, we strongly encourage you to consult with your legal counsel and/or CPA or accountant.
- 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.
- 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.
- The following online tools may be helpful in completing your Forgiveness Application:
Types of PPP Loan Forgiveness ApplicationsThere 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 lessIf your PPP loan is $150,000 or less, your Forgiveness Application can be found here, along with instructions for completing the form.
3508EZ Loan ApplicationThe 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.
Standard ApplicationIf 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.
Have questions? For the most up-to-date guidance and additional resources, please consult the U.S. Small Business Administration website.
How to Submit Your Forgiveness Application to Vast Bank
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 >