Meredith Village Savings Bank

Meredith Village Savings Bank
Photo by Barbara Lemieux

PPP Loan Forgiveness Application Information

We sincerely appreciate your patience as we navigate the complexities of PPP loan forgiveness together.  We know that our local businesses are the heart of our communities and we continue to be committed to your success and well-being.

We remain committed to communicating with you on a timely basis. If you have any questions or concerns, please contact Tina Simpson at  603.279.9237 or [javascript protected email address]

If you have general questions about the PPP loan forgiveness rules, we recommend you review the “Resources For Questions” section at the bottom of this page.

For quick reference, click on the appropriate link below:

For PPP Loans for more than $150,000

For customers with loans greater than $150,000, we have created an electronic forgiveness application that will allow you to securely enter payroll information and upload supporting documentation. When you are ready to apply, please fill out and sign the DocuSign Application Request Form that was sent out on 9/9/2020.

Please note that the deadline for submission does not occur until 10 months after the end of your covered spending period. Therefore, you should not feel rushed to move ahead until you have all of the information you need to fully support the application.

You can review the current application form and the instructions for its completion using the links below:

For PPP Loans between $50,000 and $150,000

For PPP borrowers with loans more than $50,000 but not exceeding $150,000, there is still a possibility that Congress will enact more broad reaching relief as part of another federal stimulus package; however, we do not know if or when this might occur.  If you have already spent your PPP funds on eligible expenses and have all of your supporting documentation ready to submit, you can choose to move forward with forgiveness now, by emailing us at [javascript protected email address] using the subject line “PPP Loan Forgiveness Application”.

Please note that the deadline for submission does not occur until 10 months after the end of your covered spending period. Therefore, you should not feel rushed to move ahead until you have all of the information you need to fully support the application.

In the meantime, you can review the current application form and the instructions for its completion using the links below:

For PPP Loans for less than $50,000

The Small Business Administration has released a streamlined loan forgiveness application for Paycheck Protection Program loans totaling $50,000 or less.

The new single page forgiveness application, form 3508S, includes certifications from the borrower, but does not require calculations to be submitted with the application. It is important to note, however, that applicants using form 3508S are still required to submit all of the same documentation verifying forgivable payroll and non-payroll expenses.

The Bank will work as expeditiously as possible to get the form 3508S into an electronic format for completion and submission. When the electronic form 3508S is ready for use, we will send out invitations to our PPP borrowers with loans of $50,000 or less; but until then, no action on your part is required. Please note that the deadline for submission does not occur until 10 months after the end of your covered spending period. Therefore, you should not feel rushed to move ahead until you have all of the information you need to fully support the application.

In the meantime, you can review the new 3508S application form and the instructions for its completion using the links below:

Resources for Questions

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