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PPP Loan Forgiveness

Click here to learn about the 2021 Paycheck Protection Program and to access our online applications.

At this time, all PPP borrowers should have received their email invitation to the online PPP Forgiveness Portal. For security purposes, your invitation to the portal is only valid for a limited time after receipt. 

We encourage you to confirm your enrollment and establish your password for future logins upon receipt of your invitation. Please review the password requirements below carefully to ensure the creation of a valid password. Please note and keep this password for subsequent use.

PPP Forgiveness Application
Frequently Asked Questions
Go to FAQs
Password Requirements:
  • Passwords are required to meet the ALL of the following criteria:
    • 12 characters in length
    • at least ONE Uppercase letter
    • at least ONE lowercase letter
    • at least ONE numeric value
    • at least ONE special character - special characters allowed are ! # $ % - _ + = < >
  • Unfortunately, the portal will NOT present an error message that your password does not meet the requirements or which requirement has not been met. You will only know if your password has not been accepted if you are denied the ability to advance to the next screen. If this happens, review the password requirements to ensure you have met ALL criteria.

Once you have confirmed your enrollment and have established your password, it is then your choice as to whether you begin your application now or choose to delay the application until you are ready to proceed. You may return here to access the forgiveness portal.

The Paycheck Protection Program (PPP) Loan Forgiveness Applications must be completed online by the Authorized Signor on the original PPP loan application.

The updated applications which will reflect the new forgiveness criteria and process required to submit to the SBA is now available. If you had previously started a forgiveness application, all of the prior information and documentation you previously uploaded will be available for you to validate.

 Click here for a PPP Forgiveness Application Support Document for the Customer Portal.

 

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Below is the information that will be required to be submitted with the forgiveness Application.

The Paycheck Protection Program (PPP) Loan Forgiveness Applications must be completed online by the Authorized Signor on the original PPP loan application.

Borrowers will receive a unique invitation to the PPP Loan Forgiveness Portal when a minimum of 8 weeks has passed from loan disbursement.

  1. the PPP Schedule A Worksheet; 
  2. the (optional) PPP Borrower Demographic Information Form. 

 **As additional guidance may be received from the Small Business Administration, CNB may find it necessary to modify our process and document requirements accordingly.** 

Video Tutorial on How to Complete Application

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Each Borrower Must Submit the following documentation with its PPP Loan Forgiveness Application:

PPP Loan Forgiveness Calculation Form or PPP Loan Forgiveness Calculation Form 3508EZ

PPP Schedule A

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:

a.
Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to employees.


b.
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:
 
i.
Payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941); and
 
ii.
State quarterly business and individual employee wage reporting and unemployment insurance tax filings reported, or that will be reported, to the relevant state.
 
c.
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 (PPP Schedule A, lines (6) and (7)).
 
d.
FTE documentation showing (at the election of the Borrower):
 
i.
the average number of FTE employees on payroll per month employed by the Borrower between February 15, 2019 and June 30, 2019;
 
ii.
the average number of FTE employees on payroll per month employed by the Borrower between January 1, 2020 and February 29, 2020; or
 
iii.
in the case of a seasonal employer, the average number of FTE employees on payroll per month employed by the Borrower between February 15, 2019 and June 30, 2019; between January 1, 2020 and February 29, 2020; or any consecutive twelve week period between May 1, 2019 and September 15, 2019.
 

- If you have checked only the second box on the SBA Form 3508EZ Checklist instructions, the average number of full-time equivalent employees on payroll employed by the Borrower on January 1, 2020 and at the end of the Covered Period.

The selected time period must be the same time period selected for purposes of completing PPP Schedule A, line 11. Documents may include 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. Documents submitted may cover periods longer than the specific time period.

Nonpayroll: Documentation verifying existence of the obligations/services prior to February 15, 2020 and eligible payments from the Covered Period.

a.
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.
 
b.
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.
 
c.
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.
 

Documents that Each Borrower Must Maintain but is Not Required to Submit
PPP Schedule A Worksheet or its equivalent and the following:

a.
Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 1, including the “Salary/Hourly Wage Reduction” calculation, if necessary.
 
b.
Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 2; specifically, that each listed employee received during any single pay period in 2019 compensation at an annualized rate of more than $100,000.
 
c.
Documentation regarding any employee job offers and refusals, firings for cause, voluntary resignations, and written requests by any employee for reductions in work schedule.
 
d.
Documentation supporting the PPP Schedule A Worksheet “FTE Reduction Safe Harbor.”
 

All records relating to the Borrower’s PPP loan, including documentation submitted with its PPP loan application, documentation supporting the Borrower’s certifications as to the necessity of the loan request and its eligibility for a PPP loan, documentation necessary to support the Borrower’s loan forgiveness application, and documentation demonstrating the Borrower’s material compliance with PPP requirements. The Borrower must retain all such documentation in its files for six years after the date the loan is forgiven or repaid in full, and permit authorized representatives of SBA, including representatives of its Office of Inspector General, to access such files upon request.


Frequently Asked Questions

How do I know which application to use?
  • Once you enter the portal, you will be presented with a short series of questions which will determine which of the three Forgiveness Applications is appropriate for you loan circumstances. Answer the questions to the best of your ability. Due to the size of your loan (<=$50,000), you will be directed to the 3508s which is the streamlined application process.
What do I enter in the Economic Injury and Disaster Loan field?
  • If you did not get an EIDL advance, leave those fields blank. The application will not submit to the SBA if you input a zero.
  • If you DID get an EIDL, but do not know your EIDL account number, leave that field blank, the SBA will cross reference it at submittal.
How will I know if my application has successfully submitted?
  • Your application is submitted at the time you click Submit. While you will not receive an in portal confirmation of the submission, you will receive and email confirming your submission within the next day or 2.
Once my application is submitted, is my application considered complete?
  • Submitting your application is NOT the final step in your request for forgiveness. Your application is NOT COMPLETE without your uploaded documentation.
  • The 3508s applications requires that the borrower certify that the required documentation has been submitted to the Lender. To fulfill on this acknowledgment, the following documents must be uploaded, as applicable, to allow your application to be reviewed for forgiveness:
    • verification of payroll costs
    • the existence of obligations and service (as applicable) prior to February 15, 2020
    • eligible business mortgage interest payments
    • business rent or lease payments
    • business utility payments
  • Failure to provide the required documentation will result in a delay in your application.
When can I expect to receive a decision on my loan forgiveness application?
  • Complete applications will be reviewed in the order in which they are received. An application is not considered complete until an accurate application has been submitted and supporting documentation has been uploaded.
  • The bank is regulated to provide a decision within 60 days of receipt of a complete application.
  • Due to the large number of forgiveness applications to be processed, we ask that you do not contact your Relationship Manager regarding the status of your application unless you have been requested to do so.
  • When your loan review is in process, you will receive a docusign request to sign your application. If you have questions at that time, please feel free to contact your Relationship Manager, as referenced in your portal invite email.
Please note: The Forgiveness Application process may take up to 150 days from the date of a complete, submitted application to CNB as noted below.
You will be notified by email at each of the following stages of the Forgiveness Application process:
  • When the Forgiveness Amount has been determined by CNB and submitted to the SBA (up to 60 days from the receipt of the completed application)
  • When the SBA has made its final decision and remits payment on the Loan Forgiveness amount (up to 90 days from the date CNB submits the determined Forgiveness Amount to the SBA)