SBA Paycheck Protection Platform Lender Instructions

[Pages:63]SBA Paycheck Protection Platform Lender Instructions

Forgiveness User Guide

Updated 9/7/21

Not intended to convey policy guidance or direction

Contents

Section SBA Paycheck Protection Platform Overview Account Management Submitting Forgiveness Decisions Monitoring Forgiveness Direct Forgiveness Sign-up & Approval Process (participating lenders only) Additional Resources Exhibits

Slide(s) 3-7 8 ? 18 19 - 32

33 ? 41 42 ? 50 51 ? 59 60 ? 63

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Paycheck Protection Platform Overview

Through maturity of loan

Loan Forgiveness - Process Timeline

Borrower Application Submission

? Borrower submits a Loan Forgiveness Application (SBA Form 3508/3508EZ/3508S or lender equivalent) to the lender servicing their loan.

Lender Review & Submission

? Confirm receipt of Borrower certifications, required documentation and Borrower's calculations.

? Lender issues its decision to SBA and requests payment, if applicable.

60 days or less

Maximum of 150 days

90 days or less

SBA Review & Remittance

? SBA remits the appropriate forgiveness amount to the Lender, plus any interest accrued through the date of payment.

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Loan Forgiveness ? Decision Submission Process

Lenders are required to take the following actions in the Platform:

Create User Accounts

Submit PPP Forgiveness

Decisions

Monitor PPP Forgiveness

Decisions

? Initial Organization Admin creates their Platform Account.

? Organization Admins select (up to 10) members at their institution to sign-up to the Platform and help create their accounts.

? Lenders submit Decisions via the Platform.

? Lenders upload any supporting documents for decisions.

? Lenders upload their ACH instructions and Confirmations.

? Lenders monitor their Forgiveness submissions and respond to any SBA reviewer inquiries.

? Subject to SBA Loan Review, Lenders receive SBA's decision on each Forgiveness submission.

? Lenders monitor their payment status.

? Organization Admins view institution's total application portfolio for reporting.

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Paycheck Protection Platform ? Forgiveness

? The Paycheck Protection Platform can be accessed at forgiveness. ? The Platform supports three methods of submission for forgiveness decisions:

1. Lenders manually enter data and upload supporting documentation. 2. Large Lenders connect via API and submit Decisions in bulk. 3. Software Providers connect via API and submit Decisions on behalf of Lenders.

? Using MS Edge or Google Chrome browsers is recommended for an optimal experience. ? Complete information on APIs can be found at .

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Platform User Types

Organization Admins can create additional Platform users and grant four levels of access with the following permissions:

Admin

General

Read Only

API User*

Administrative Functions Create Users Activate/Deactivate Users Assign User Types Reset Password for Other Users Servicing Functions Institution Information (e.g., ACH, Interest) Submit Decision Submit Documentation Withdraw Decision Lookup PPP Disbursed Loan Status View Decision Status Platform Inbox Reporting Functions SBA Dashboard Payment Dashboard

X

X

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Via API

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X X

Note: The API User role should only be used for an individual user managing API technology (e.g., FinTech

user). Admins will need to create accounts for API Users.

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Account Management

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