Paycheck Protection Program Loan Forgiveness File Submission
Welcome to the Paycheck Protection Program Loan Forgiveness upload portal. This portal is exclusively for ChoiceOne Bank business customers.
Please read all instructions before proceeding:
Step 1. Determine if you qualify for the EZ Form (Option A) or Full Form (Option B)
Step 2. Download and complete PPP loan forgiveness application (Either Option A or B)
Step 3. Gather supporting documents
Step 4. Upload and submit documents – Coming soon!
For more information please see the SBA PPP Loan Forgiveness Guide (pdf) and the SBA PPP Loan Forgiveness Calculator (xlsx).
Step 1: Determine if you qualify for the EZ Form
Please use Option A the EZ version of the forgiveness application if you:
- Are self-employed and have no employees; OR
- Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
- Experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%.
Please contact your lender if you do not qualify for the EZ form. You will need to follow Option B.
Option A – EZ Form
1. Signed PPP Forgiveness Application – Download blank EZ Forgiveness Application
This document is directly from the SBA and is required to begin the PPP Loan Forgiveness Process. Have questions filling out this application? View the EZ Forgiveness Instructions provided by the Treasury Department.
Please name your file: your-business-name-ppp-forgiveness-application.pdf
2. Payroll Documentation
Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to employees.
Please name your file: your-business-name-payroll.pdf
3. Tax Forms
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.
Please name your file: your-business-name-tax.pdf
4. Health Insurance and Retirement Plans
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.
Please name your file: your-business-name-health-insurance.pdf
5. Number of Employees
If you did not reduce the salaries or wages of employees by more than 25%, and did not reduce the number or hours of employees, please provide 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.
Please name your file: your-business-name-employees.pdf
6. 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
Please name your file: your-business-name-mortgage-interest.pdf
7. 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.
Please name your file: your-business-name-rent-payments.pdf
8. 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
Please name your file: your-business-name-utility-payments.pdf
Upload instructions for forgiveness are coming soon.
Option B – Full Form
1. Signed PPP Forgiveness Application – Full PPP Loan Forgiveness Application
This document is directly from the SBA and is required to begin the PPP Loan Forgiveness Process. Have questions filling out this application? View the style=”color:#009FD7″>Full Forgiveness Instructions provided by the Treasury Department.
Please name your file: your-business-name-ppp-forgiveness-application.pdf
2. Payroll Documentation
Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to employees.
Please name your file: your-business-name-payroll.pdf
3. Tax Forms
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.
Please name your file: your-business-name-tax.pdf
4. Health Insurance and Retirement Plans
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.
Please name your file: your-business-name-health-insurance.pdf
5. Number of Employees
Documentation showing (at the election of the Borrower):
a. the average number of FTE employees on payroll per week employed by the Borrower between February 15, 2019 and June 30, 2019;
b. the average number of FTE employees on payroll per week employed by the Borrower between January 1, 2020 and February 29, 2020; or
c. in the case of a seasonal employer, the average number of FTE employees on payroll per week employed by the Borrower between February 15, 2019 and June 30, 2019; between January 1, 2020 and February 29, 2020; or any consecutive 12-week period between May 1, 2019 and September 15, 2019.
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.
Please name your file: your-business-name-employees.pdf
6. 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
Please name your file: your-business-name-mortgage-interest.pdf
7. 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.
Please name your file: your-business-name-rent-payments.pdf
8. 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
Please name your file: your-business-name-utility-payments.pdf
Upload instructions for forgiveness are coming soon.
Step 4: Upload instructions coming soon.