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Paycheck Protection Program Portal Overview for Simplified Forgiveness (under 50K)

 
 

If your PPP loan was less than $50,000, when you receive the invitation to access the Forgiveness portal, you will be asked two questions in order to verify your eligibility for the 3508S (or the simplified application). The 3508S form was developed by the SBA to provide a more streamlined Forgiveness process for borrowers with smaller loans.

To review the three application types and what they require, visit our Forgiveness Application Comparison Chart page.

Please note: you must meet the following criteria to be eligible for the 3508S form:

  1. Your loan is $50,000 or less
  2. You attest that if you have any affiliates, you did not receive PPP loans totaling $2 million or more.
  3. You must retain all documentation to support your calculations for six years.


Step 1:

Receive the welcome email and log into the portal.


Step 2:

Arrive at the welcome screen of the portal. Review your loan amount. If Under $50,000, click continue.


Step 3:

You will be asked if you have an affiliates that also received a PPP loan. If No, you continue on to the loan application.


If the answer is Yes, you’ll be asked if all of your affiliate loans total $2,000,000 or over.


If the answer is No, you can continue to the 3508S application. (skip to step 4.)


If the answer is Yes, it activates the qualification questions for the EZ Forgiveness Application.

Please click to our EZ Application workflow page to learn how to complete that application.


Step 4:

Continuing with the 3508S Flow

You can click “here” to view a copy of the 3508S application and/or the directions. To move forward with the application, click Continue.


Step 5:

Review your business details.


And click the next button.


Step 6:

Enter the number of Employees.


Step 7:

Then the EIDL information if applicable.


Step 8:

Then Enter the Forgiveness Amount.


Step 9:

Then upload your documents:

Tax forms, proof of payroll, and anything else that is applicable. Payroll documentation is mandatory.


Step 10:

Press Next


Step 11:

You’ll be asked about demographic information (this is optional).


Step 12:

You will be asked to acknowledge and submit your application.


Then you’ll see the success screen.


Step 13:

You will receive an email via DocuSign to complete the application and add your signatures.


Step 14:

Once completed stay tuned to hear from Rockland Trust to learn of any next steps.

Remember you can log in to the portal at any time and check your status on the main page.

If you have any questions, contact your relationship manager or our Customer Information Center at 508.732.3826.