Paycheck Protection Program
Our team of banking professionals is here to help our clients apply for PPP loan forgiveness. Consult with your client advisor or call one of our branch offices if you have any questions about the forgiveness process.
To apply or start the PPP forgiveness application, please use the form below.
Please do not send transaction requests, confidential or sensitive information via this form.
If you need to communicate any type of confidential or sensitive information such as content that includes tax identification numbers, account numbers, financial data, etc., please use our secure email service.
Paycheck Protection Program types
Loan Details and Forgiveness
The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 60% of the forgiven amount must have been used for payroll). If you wish to begin preparing your application, you can download a copy of the standard PPP Loan Forgiveness Application Form (as of January 19, 2021) or download a copy of the PPP Loan Forgiveness Application Form EZ (as of May 24, 2021).
You can apply for forgiveness of your Paycheck Protection Program (PPP) loan using the PPP Loan Forgiveness Application Form 3508S (as of May 24, 2021) if the total PPP loan amount you received from your Lender was $150,000 or less. However, a borrower that, together with its affiliates received PPP loans totaling $2 million or more cannot use this form.
Required Documentation: SBA Form 3508S does not require borrowers to provide additional documentation to show the calculations used to determine their loan forgiveness amount. However, SBA may request information and documents to review those calculations as part of the loan review or audit processes.
Payroll: Documentation verifying the eligible cash compensation and non-cash benefit payments from the Covered Period or the Alternative Payroll Covered Period consisting of each of the following:
- Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to employees.
- Tax forms (or equivalent third-party payroll service provider reports) for the periods that overlap with the Covered Period or the Alternative Payroll Covered Period:
- Payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941); and State quarterly business and individual employee wage reporting and unemployment insurance tax filings reported, or that will be reported, to the relevant state.
- Payment receipts, cancelled checks, or account statements documenting the amount of any employer contributions to employee health insurance and retirement plans that the Borrower included in the forgiveness amount.
Nonpayroll: Documentation verifying existence of the obligations/services prior to February 15, 2020 and eligible payments from the Covered Period.
- Business mortgage interest payments: Copy of lender amortization schedule and receipts or cancelled checks verifying eligible payments from the Covered Period; or lender account statements from February 2020 and the months of the Covered Period through one month after the end of the Covered Period verifying interest amounts and eligible payments.
- Business rent or lease payments: Copy of current lease agreement and receipts or cancelled checks verifying eligible payments from the Covered Period; or lessor account statements from February 2020 and from the Covered Period through one month after the end of the Covered Period verifying eligible payments.
- Business utility payments: Copy of invoices from February 2020 and those paid during the Covered Period and receipts, cancelled checks, or account statements verifying those eligible payments.
Loan Forgiveness Process
Step 1: Complete the appropriate forgiveness application and turn it in with the requested documentation, if applicable.
- Forgiveness applications for loans $150,000 or less should use Form 3508S.
- Forgiveness application for loans over $150,000 with no reduction in staff (other than permissible by the safe harbor clauses) or reduction pay (pay cuts for any employee did not exceed 25%), should use Form EZ.
- Forgiveness application for loans over $150,000 with reduction or pay cuts greater than 25% should applying using the Standard PPP Loan Forgiveness Application.
Step 2: Partners Bank of California acknowledges receipt.
Step 3: Partners Bank of California acknowledges it completed its good faith review and submitted the application to the SBA online portal.
Step 4: SBA responds with decision on full, partial or no forgiveness.
To learn more, you can download a copy of the frequently asked questions about PPP loan forgiveness (as of October 13, 2020).
- SBA 504 loan
- SBA 7(a) loan
- Economic Injury Disaster loan (EIDL)
- SBA debit relief
- California State Guaranteed loans
- SBA grants
For the latest information on the PPP, please visit sba.gov/ppp.
Mission Viejo27201 Puerta Real, Suite 160
Mission Viejo, CA 92691
Main: (949) 732-4000
Fax: (949) 348-0180
Hours: Monday-Friday 9 AM to 4 PM PT*
Beverly Hills8484 Wilshire Blvd, Suite 520
Beverly Hills, CA 90211
Main: (323) 556-6544
Fax: (323) 556-3137
Hours: Monday-Friday 9 AM to 4 PM PT*