The application must be completed, signed and submitted to Enterprise. The email contained a link to your forgiveness application. The application contains pre-filled portions, making the process more efficient for you. You’ll use the system to electronically complete, sign and submit your forgiveness application and supporting documents. If you cannot process your forgiveness application electronically, please notify us of your need for a paper application by sending an email to [email protected].
The forgiveness application process contains three steps. Detailed instructions for each step are below.
- Step 1 - Determine who should complete the application and initiate the application process.
- Step 2 - Complete the application and upload supporting documents, if desired.
- Step 3 - Determine who should sign the application and e-sign the application.
If we need more information, you will receive an email from us requesting additional information.
Follow these steps when you’re ready to begin!
Step 1 - Determine who should complete the application and initiate the application process.
The application can be completed by the borrower or his / her designee. The email with the link can be forwarded. In Step 1 of the process, a PIN number will be created. Only one PIN should be created for the application. Depending on who creates the PIN, it may be necessary to share it with the application preparer.
- Click on the Client Portal Link provided to you by Enterprise.
- Create a PIN that you (or your designee) will need to access your forgiveness application prior to submitting it for processing. Don’t forget your PIN number.
a. The PIN must be between 6-12 characters. It can include numbers, letters and special characters.
Step 2 - Complete the application and upload supporting documents.
Your loan amount was $50,000 or less, therefore, you may be eligible to use Form 3508S, as long as certain SBA affiliation rules do not apply. The 3508S application requires fewer calculations and less input for eligible borrowers.
HINT: If you would like more information about any fields in the app, utilize the tooltip icon by clicking directly on the question mark icon beside the corresponding field.
- To use Form 3508S, click on the “Form 3508S” button. The button will turn to a solid blue background. The system will tell you that the form type has been updated and the 3508S application will appear below.
a. If you determine that you are not eligible to use Form 3508S, send an email to [email protected] and we’ll send you the instructions for the other forms.
- Complete the Business Information Section
a. Verify the information in the grayed out fields. If anything needs to be corrected, send an email to [email protected].
b. Select Yes or No if you, the borrower (together with affiliates, if applicable) received PPP loans with an original principal amount in excess of $2 million.
c. Required - Select Yes or No if you would like to provide optional demographic information about your principals.i. If Yes is selected, a new section will open that will allow you to identify for each principal.d. Complete Employment Informationi. Select an end date for your covered period, between 8 and 24 weeks following the loan disbursement date.e. Complete the Payroll Information Sectioni. Employees at Time of Loan Application - Enter the Headcount number used on the original loan application.
ii. Employees at Time of Forgiveness Application - To determine the Headcount at the time of the loan forgiveness application, use a counting method that is consistent with how the Headcount was determined at the time of the loan application. For example, if the owner was in the employee count, be sure to include the owner in the employee count for forgiveness.
- Complete the Loan Information Section
a. Choose whether the forgiveness application is related to a First Draw or Second Draw PPP Loan.
- Complete Forgiveness Amount section - See Tips for completing the forgiveness application.
a. Enter the amount of loan spent on payroll costs and the requested loan forgiveness amount.
b. Click Save.
c. Upload any documents you wish to submit with your application (not required).i. Click the upload documents button.
ii. Drag and drop file or click to upload.
iii. Click upload at the bottom of the page.
Step 3 - Determine who should sign the application and e-sign the application
An Authorized Representative of the company must sign the forgiveness application. Generally, the application should be signed and certifications completed by an individual who signed the PPP promissory note. The individual who signs the application is certifying under law that the borrower met the requirements of the CARES Act and Flexibility Act of 2020. The individual will be required to authenticate their identity as part of the signing process.
- Use the Create New Person tab to add an authorized signer
a. Verify or enter the email of the authorized signer in the email box.
b. After the information is verified or entered, hit Submit and Send Email for Signature button.
c. If prompted, review and complete any of the missing required fields.
- A signature request email will be sent to the authorized signer to eSign the 3508S Form. They will be required to enter their name and address and answer a series of questions to confirm their identity prior to being allowed to sign the application.
- The Authorized signer will certify each question with their initials and then sign the application. Once completed, click the “Click to Sign” button. By clicking this button, the application is submitted to Enterprise.
- The Authorized signer will receive an email with a copy of their signed form.
Upon receipt of the signed application, Enterprise has 60 days to review the application and make a forgiveness recommendation to the SBA. If we need more information, we’ll contact you. We will notify you when we submit your forgiveness application to the SBA.
The SBA will process our recommendation and notify Enterprise of its decision. The SBA is obligated to review and make a final decision within 90 days.
Enterprise will notify you of the final SBA decision.
- 100% of the loan amount is forgiven - You will receive a letter notifying you that your PPP promissory note has been “Paid in Full”.
- Less than 100% of the loan amount is forgiven - In the event 100% of your loan amount is not forgiven, you are required to pay back any unforgiven balance. Enterprise will contact you with additional information regarding any required payments.
Tips for Completing the Loan Forgiveness Application
- Supporting documents for payroll - Some third-party payroll providers have developed reports to help borrowers complete the compensation and FTE sections of the PPP forgiveness application. Contact your payroll provider for more information. Enterprise is not liable for calculations in any reports provided by third-party payroll providers.
- $100,000 compensation limit for Employees - For each individual employee, the total amount of cash compensation eligible for forgiveness may not exceed an annual salary of $100,000, as prorated for the Covered Period. For an 8-week Covered Period, that total is $15,385. For a 24-week Covered Period, the total is $46,154.
- $100,000 compensation limit for Owner-employees, a self-employed individual, or general partners - The amounts paid to owners (owner-employees, self-employed individuals or general partners) for a 24-week Covered Period, is capped at $20,833 (the 2.5-month equivalent of $100,000 per year) for each individual or the 2.5-month equivalent of their applicable compensation in 2019, whichever is lower. For an 8-week Covered Period, this amount is capped at 8/52 of 2019 compensation (up to $15,385).
- Sole Proprietors who take Draws instead of Payroll - Some owners may take draws instead of “payroll”, not have a separate business checking account (they use their personal account so they don’t “pay” themselves) or due to the pandemic are not making enough money to “pay” themselves. The supporting documentation required to be maintained by the borrower is the 2019 Schedule C. Borrowers do not need to have a cancelled check or payroll record to show actual disbursement of the PPP loan proceeds.