Loan Forgiveness Applications – Second Draw & 2021 First Draw

Updated  5/4/21

To apply for forgiveness of a PPP loan opened in 2021, please follow these steps:
  1. Login to the PPP forgiveness portal
  2. Enter information
  3. Upload documentation (if applicable)
  4. Submit the application

1) Login to the PPP forgiveness portal

Apply for forgiveness here: PPP Loan Forgiveness Application

  • Borrowers who applied for a PPP loan through our Atlas application portal can simply log back into your account to get the process started. Note - If you applied with us online, you would have used this portal.
  • If you did not use the Atlas portal for origination, please contact us at commercialbanking@theguarantybank.com for instructions on how to apply for loan forgiveness.
Please note that because of the SBA’s system requirements, Chrome is the most effective browser for accessing the forgiveness portal.

2) Enter information

If your loan amount is less than $150,000, the system will automatically assign application form 3508-S.

If your loan amount is greater than $150,000, the system will walk you through the process of choosing the correct application form (3508-EZ or 3508).

Once the application type has been selected, you will have the opportunity to provide the relevant application information. Atlas will populate your PPP loan data automatically.


3) Upload documentation (if applicable)

Borrowers who received a Second Draw loan must submit evidence of a 25% or greater decline in revenue for at least one quarter of 2020 compared to the same quarter in 2019. This can include any of the following:
  • Quarterly financial statements for 2019 and 2020 evidencing the decline. The borrower must sign and date the first page and initial each subsequent page.
  • Quarterly or monthly bank statements for 2019 and 2020 evidencing the decline. If using monthly statements, please include all three months of the quarter. If unclear in the bank statement(s), the borrower must note which deposits constitute gross receipts and which do not.
  • Annual tax returns for 2019 and 2020.
If your loan amount is less than $150,000, you are not required to submit any additional documentation (though you do need to maintain it in case the SBA chooses to audit the file).

If your loan amount is greater than $150,000, please refer to the following checklist for the documentation that is required to be submitted with your application:

View and print the Documentation Checklist


4) Submit the application

When you have completed all of the required sections, you will be able to submit the application to WGSB for review.

Once your application has been reviewed and approved by WGSB, you will receive a DocuSign email that will allow you to electronically sign the application. The email will come from “PPP Loan Admin via DocuSign.” WGSB will then send your application to the SBA for approval.


Frequently Asked Questions

When should I apply?
You can apply for forgiveness any time after your covered period ends and before the maturity date of your loan. With that said, if you do not apply within 10 months of the end of your covered period, you will be required to start making payments on your loan.

Note – If you are claiming employee payroll expenses, you must wait to apply until the applicable IRS Form 941(s) and State unemployment insurance report(s) are available.

What is my Covered Period?
The SBA allows the borrower to choose a covered period (the time during which you can spend the PPP funds on eligible expenses) between 8 and 24 weeks, starting on the date of loan disbursement.

Note – If you are claiming owner compensation, we highly recommend that you choose a covered period of at least 11 weeks, because anything less could result in a reduction of the amount that is eligible for forgiveness.

Can I still apply for forgiveness of a 2020 PPP Loan?
If you are looking to apply for forgiveness of a PPP loan originated in 2020, please refer to the following document:


Still have questions?

Contact your lender. He or she will be happy to assist you.