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SBA Paycheck Protection Program Loan Forgiveness Resource Center

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The Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act), which was signed into law on June 5, makes certain material changes to the Small Business Administration (SBA) Paycheck Protection Program (PPP), including to the terms of forgiveness. We encourage you to monitor information from the SBA, and what it might mean for your business, as this program continues to evolve.

While First Tech is here to help, as the borrower, you’re responsible for understanding the program rules and if your loan qualifies for forgiveness. Loan forgiveness is not automatic. If you plan to seek forgiveness, you may submit an online application through the SBA’s website.

How to apply for PPP loan forgiveness

  • PPP borrowers with loans $150,000 and below may apply for forgiveness directly with the SBA.
  • We strongly encourage you to keep detailed records of how your business is using PPP funds. Clear documentation will help you through the loan forgiveness process.
  • If you applied for a PPP loan and received funding through First Tech, you may now complete the online forgiveness application and provide supporting documentation.
  • The forgiveness application process will be similar to the application for the PPP loan so you will need to have all of your information/documentation handy to complete it. Your SBA Loan Number and TIN/EIN will be required to start the application for forgiveness.

Preparing for loan forgiveness

Familiarize yourself with the SBA Paycheck Protection Program Loan Forgiveness Application Instructions at 


Loan Forgiveness Frequently Asked Questions

When can I apply for PPP loan forgiveness?

First Tech borrowers can apply for forgiveness now directly with the SBA.


Who determines the amount of loan forgiveness?

The SBA is responsible for determining the amount of loan forgiveness. The amount forgiven may include full, partial, or no forgiveness. The SBA’s rules concerning forgiveness may change over time. The latest information is available on the Treasury and SBA websites.


How does the forgiveness work?

Up to 100% of the principal amount and any accrued interest of the loan may be forgiven if you use the proceeds on qualifying expenses during the Covered Period*. At least 60% of the PPP loan proceeds must be used for payroll costs. Up to 40% of the loan proceeds can be for eligible non-payroll costs. However, there are certain actions that may reduce the amount of forgiveness, such as reducing the number of employees or reducing employee salaries or wages.

*Refer to the Loan Forgiveness Application Instructions for Borrower definitions of Covered Period and Alternative Payroll Covered Period.


What happens if some or all of my loan amount is not forgiven?

Use of PPP loan proceeds for unauthorized purposes will not be forgiven. Borrowers are responsible for repaying any amount not forgiven by the SBA, regardless of reason.


If my loan is not forgiven, how much is my monthly payment?

Please refer to your First Tech/SBA PPP Note for your monthly loan payment and first due date.


Can I start making PPP loan payments early?

Yes, you can begin making payments early. Payment may be made using First Tech's online banking, by visiting a branch, or calling the contact center.


Where can I go with questions on how to complete the required forgiveness calculation form?

You can reference the PPP Loan Forgiveness Applications as well as current applicable SBA regulations and guidance from the SBA website or consult with your own advisors (accountants or attorneys) with questions. You may contact First Tech’s PPP Inquiry phone line at 503.469.7707 or email us at


What can I expect after I have submitted my loan forgiveness application?

Once you have submitted your loan forgiveness application the SBA will have 90 days to review and approve your application and will respond to First Tech. You will be notified as soon as we hear from the SBA on your loan forgiveness decision.