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Paycheck Protection Program
PPP Forgiveness Review

November 4, 2020

While we continue processing forgiveness applications for our PPP borrowers, we want to refresh you on the loan forgiveness process.

As a PPP borrower, you can apply for forgiveness once all loan proceeds have been used. If you do not apply for forgiveness, you will begin making loan payments to CNB&T.

How to Apply for PPP Loan Forgiveness

Contact PPP Lender

Contact your CNB&T Lender and complete the correct form.

We will provide you with Form 3508, 3508EZ, or 3508S, depending on your qualifications. To review the form options and instructions, review our previous updates.

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Gather your supporting documentation.

This list of supporting documents is not all-inclusive. Please refer to and consult with your CNB&T lender for a complete list of requirements, instructions and forms.


Provide documentation for all payroll periods that overlapped with the Covered Period or the Alternative Payroll Covered Period.

  • 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.

For expenses that were incurred or paid during the covered period and showing that obligations or services existed prior to February 15, 2020.

  • Business mortgage interest payments: Copy of lender amortization schedule and receipts verifying payments, or lender account statements.
  • Business rent or lease payments: Copy of current lease agreement and receipts or cancelled checks verifying eligible payments.
  • Business utility payments: Copies of invoices and receipts, cancelled checks or account statements.
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Submit all documents to your CNB&T lender.

Complete your loan forgiveness application and submit it to your CNB&T lender with the required supporting documents. Consult your Lender for additional guidance and provide requested documentation in a timely manner.

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Stay up-to-date with your CNB&T lender.

If the SBA undertakes a loan review of your loan, your CNB&T lender will notify you of the review and the SBA loan review decision. You have the right to appeal certain SBA loan review decisions. Your lender is responsible for notifying you of the forgiveness amount paid by SBA and the date on which your first payment will be due, if applicable.

If applicable, the SBA will deduct any EIDL advance amount you have received from the forgiveness amount remitted to CNB&T, as required by section 1110(e)(6) of the CARES Act. PPP Borrowers are required to retain certain documents for six years after the date the loan is forgiven or repaid in full.