First Citizens Bank is proud to have helped nearly 23,000 businesses across our communities secure loans totaling $3.2 billion through the Small Business Administration's Paycheck Protection Program, or PPP .
"Taking care of our customers is our promise—it's who we are, especially during times like these", said Chairman and CEO Frank Holding. "I'd like to thank our clients for their patience and trust in us as we've navigated this process and the unusual operating environment. I'd also like to thank our associates for diligently working day and night to help businesses access this PPP funding. It's been an incredible display of teamwork and dedication, and we're grateful for the opportunity to support small businesses and their vital role in the communities we serve."
Important Update: We have stopped accepting new PPP applications for First and Second Draw loans as of close of business Friday, April 23, 2021.
For borrowers who want to begin the forgiveness process, you can complete the application and submit any required documentation using First Citizens Digital Banking, BOB Advantage® or Commercial Advantage. These online portals were designed to make submission easier and secure, and to ensure timely processing.
You'll be able to log in, see your SBA information pre-filled, and then complete, submit and attest to the information on the respective forgiveness application. You can also upload documentation, if it's required.
If you've determined you're eligible to submit the SBA Form 3508S application, simply follow the instructions below for accessing our client portal and you'll be guided through the necessary steps to complete the application submission process. In many situations, no documentation is required to be submitted to the bank at the time of the application.
If you are not eligible to use the 3508S Application, you must use either SBA Form 3508 standard or SBA Form 3508 EZ and provide us with the necessary documentation to review before we send it to the SBA for a final decision on the forgiveness amount.
To make the process as easy as possible for you, we've created a quick documentation checklist to guide you through the items you'll need to include if you're submitting either the SBA Form 3508 standard or 3508 EZ forgiveness application. Please refer to the PPP Forgiveness Application documentation checklist ( PDF ) for a complete list of the documents required in the following categories and be sure to include the following documentation if required:
Payroll Documents: Payroll must account for at least 60% of the forgiveness request amount.
Non-Payroll Documents: Non-Payroll amounts cannot account for more than 40% of the forgiveness request amount.
If you experience any challenges submitting your information through the First Citizens Digital Banking or Commercial Advantage portal, please reach out to your local First Citizens Bank associate directly for further assistance.
If you haven't already, we encourage you to review the SBA 's three updated forgiveness applications to get an idea of the documentation requirements and determine which application form is appropriate for your situation:
It may also be helpful to review the SBA 's Loan Forgiveness Requirements and Loan Review Procedures ( PDF ) and Frequently Asked Questions on PPP Loan Forgiveness ( PDF ). Loan forgiveness terms for both first draw and second draw PPP loans are available on the SBA 's website at sba.gov.
Use the SBA PPP Forgiveness Application Checklist ( PDF ) to review the required documentation to apply.
While it is acceptable to apply for forgiveness before the end of the 24-week covered period, the covered period entry must still reflect the full 8- or 24-week period, even if all the funds were used in a period less than 24 weeks. The covered period does not end on the date you spent all the PPP proceeds. The SBA will not accept an application without covered periods entered correctly.
Sample dates for clarification:
