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SBA PPP Loan Resources

Research the options for available small business relief programs.

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PPP Forgiveness FAQs PPP Usage FAQs SBA Loan Programs


PPP Forgiveness Frequently Asked Questions


As we have moved into the forgiveness portion of the PPP program, we have received many common questions. Please review the following information when preparing your forgiveness application.

It should be noted that items below may change. The US Senate did not advance another round of stimulus in early September that would have streamlined forgiveness for loans under $150,000. While there is still talk of a possible streamlined process, it appears less likely that anything will get done before the November election.


Portal Login

To use the portal, you'll need your Business Legal Name as it appeared in the invitation email we sent in July plus your Tax ID number (EIN/SSN). The legal name does include punctuation like periods and commas, so we recommend copying it from that email. For your Tax ID, please enter it without any dashes (ex: 123456789). If you don't have the invitation email, please email Jordan Behrens and we'll resend it to you.

SBA PPP Loan Forgiveness Portal

(Portal link works best in Google Chrome)


Applying for Forgiveness

When you are ready to submit for forgiveness, here are a few things to remember:

  • Documentation for all covered expenses (payroll, rent, mortgage interest, and utilities) is required. These can include items such as payroll reports, utility bills, mortgage statements, and cleared rent checks. There are predefined categories in the portal for each document type.

  • Please refer to your original PPP application for the initial number of employees. The number on the forgiveness application should match the original application. For example, if you put 5 employees on your application in April, then 5 employees would be your initial number of employees for forgiveness.

  • You must select a covered period (8 weeks or 24 weeks). For example, if you used your funds in 15 weeks, then you would apply under the 24 week timeline.

  • For those of you with EIDL Advances, please include your EIDL Application Number. It was emailed to you as part of the EIDL process. We do not have a way to gather that information.

  • Please initial and sign your application prior to submission. The final box asks that you certify your application by initialing in at least ONE of the boxes. Please initial in the appropriate box and put a space in the other one.

For those of you who are self-employed, there are two additional items:

  • Enter your loan amount as your payroll amount.
  • Please resubmit your 2019 Schedule C or Schedule F. 

We have enjoyed working with all of you through these difficult times and are here to help you with all of your banking needs going forward. As a true community bank, this is what we do. Whether it's loans, deposits, electronic services, mortgages, or investment services, you can count on First Community Bank and Trust.



PPP Usage Frequently Asked Questions


1)    Do you have a form you want completed each week for qualified disbursements?  There is no specific SBA requirement regarding how you keep track of you the funds are spent, but we are strongly recommending that each time you take a draw from the loan proceeds, you leave a very clear paper trail in a file as to how the funds were spent (using them only for the permissible purposes, which we included in your signing packet).

2)    When do we need to use the funds?  The funds need to be used for the permissible purposes starting on your note date and for the next eight weeks.

3)    Can we set up the monthly interest payment as an automatic debit from our checking account? All payments are deferred for six months, and that includes interest. We assume that all borrowers will have applied for forgiveness before then and the government will have paid off the loan long before the six months expires. We are not sure if the government is paying off the interest or not.

4)    Will we be able to see this new account from the website?  If you are enrolled in First eBiz, our commercial cash management product, you will see both the new loan and the new demand deposit account online.

5)    Can we transfer funds from the new deposit account to our operating account online? First eBiz users have been provisioned to allow transfers from the new deposit account to their operating account. The users who had rights for the operating account were given rights to these new accounts. If you would like a different set of users authorized, please contact Karen Burgess at (708) 946-2246.

6)    When do we need to have all of our employees back to work? You must have all of your reported employees back to work before June 30, 2020. The idea, though, is to get them back sooner and use the loan funds to make those payroll payments.

7)    When can my company apply for forgiveness? You may apply for forgiveness after the end of the seventh week after funding.

8)    What will we need to do at that time? We don't have an official SBA form for that purpose yet, but we do know that you will need to certify that you have used all of the funds for permissible purposes and that at least 75% of the funds were used for payroll purposes. That is why keeping up to date documentation is so important, as this responsibility is completely the borrowers.

9)    We have good friends in business who are having a very difficult time with their banks getting their PPP loans processed and approved. Can you help them? We have begun taking referrals from our customers in situations like these and have helped non-customers get into the program. Please call Cameron Ohlendorf or Greg Ohlendorf to discuss.



Small Business Relief Programs


SBA Paycheck Protection Program

While there continues to be many unanswered questions about the program as final guidance hasn't been issued on a number of key topics, if you have already applied and been approved for a Paycheck Protection Program loan through First Community Bank and Trust, please make sure you review the documents below. We understand that some of this information may evolve as further guidance is released, but we want to help you be successful in getting the maximum loan forgiveness at the end of the eight-week period.

If you have any questions, give us a call at (708) 946-2246.

Loan Forgiveness Details Economic Uncertainty Rule ADP PPP Scenarios


SBA Economic Impact Disaster Loan

The SBA provides low-interest disaster loans to businesses of all sizes and private non-profit organizations. Loans can be used to cover small business operating expenses. If you apply for an EIDL and ultimately choose to change your application to a Payroll Protection Program (PPP) loan, you can refinance into that program when it becomes available. However, you cannot use an EIDL to cover the same expenses as the PPP.

  • How can it be used? Funds can be used to support working capital (rent, payroll, accounts payable, etc.).
  • How do you apply? You can apply online with the SBA. You can apply for a $10,000 advance via the link below while your application is being processed. The $10,000 advance can be processed in as little as 3 business days and does not need to be repaid. Applications can take up to 21 days to review and up to 60 days to approve. Use the link below.
  • How much is available? Up to $2 million. Loans up to $25,000 can be done without collateral, while loans over that dollar amount would require some form of collateral.

Learn More: SBA Economic Impact Disaster Loan



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Call us at (708) 946-2246, (708) 258-0530 or send us an online message.

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