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Forgiveness Process


For customers that have received an SBA PPP loan from Bank of Brodhead, we will be utilizing an online portal for the preparation of the SBA Application for Forgiveness (SBA Form 3508, 3508 EZ, and 3508S) as well as for uploading of supporting expense documentation. Please note that even though you receive the invitation to apply for forgiveness, it does not mean you need to apply immediately. Many customers will need additional time to gather required documentation or may choose to use the expanded 24-week period to expend their PPP funds.
 
The Treasury and SBA have created and published updated resources (https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program#section-header-5) for borrowers regarding the program. You may find the following information helpful to you as you plan what expenses to pay with the PPP loan proceeds and any other actions you need to take to maximize your loan forgiveness.
 
 
 
 
Additional helpful resources on forgiveness:
Fiserv portal video tutorial for borrowers Click Here