- Use Google Chrome or Mozilla Firefox as a web browser for best results.
- When logging into the system, the Tax ID should be input with no dashes.
- Refer to the Document Checklist links below for lists of documents required for your Forgiveness Application.
- Gather your required documentation and scan it into .PDF format. Scanning it into one .PDF file will be easiest to upload.
- Do not upload files in .ZIP format. Files must be uploaded individually.
- Save your information before moving from page to page in the software.
- If you need to exit the Forgiveness Application to continue your work later, please save your information first. (It will be lost if you do not save it.)
- Once your application is complete and your documentation is uploaded, hit submit to complete your application.
PPP Loan Forgiveness Resources
Update: PPP loans $150,000 select and complete Form 3508S in the portal below.
PPP Loan Forgiveness - Form Instructions
PPP Loan Forgiveness Updates
Updated March 5, 2021: The Union Bank Company's Forgiveness Portal has been updated with the SBA's simplified forgiveness application Form 3508S for PPP loans $150,000 and under. Please use the simplified form, if you are eligible. You'll be required to include your NAICS industry code, which can be found here. Form 3508EZ and 3508 have also been updated in our portal. Please see above instructions for each form type.
Updated October 2, 2020: The Small Business Administration has issued guidance on PPP borrower changes in ownership. Borrowers must notify the bank in writing prior to the closing of any change in ownership. An escrow account equal to the outstanding balance of the PPP loan will need to be established. The bank may approve the change in ownership with SBA approval, as required.
Paycheck Protection Program - Loan Forgiveness Details
- Covered Period Flexibility
Borrowers may choose a covered period for any length of time between 8 weeks and 24 weeks after loan disbursement.
- 75% rule reduced to 60%
Now borrowers must spend at least 60% on payroll, not the 75% in the original bill.
- New PPP loans will have a minimum maturity of 5 years
New borrowers now have 5 years to repay the loan instead of 2 years. Existing PPP loans can be extended up to 5 years if the lender and borrower agree. The interest rate remains at 1%.
- Extend Loan Forgiveness Period
The deferment period has been extended from 6 months to the date the SBA remits the borrower’s loan forgiveness to the bank, or within 10 months of the last day of the covered period, if the borrower doesn’t apply for forgiveness.