Thank you for trusting Citizens Bank with your PPP Loan with SBA. The time frame for submitting requests for the forgiveness of funds received through the PPP program has begun. The following information must be submitted to CBOTS to begin the loan forgiveness review.

To begin the loan forgiveness process, the following information will need to be uploaded to CBOTS through the portal below:

1. 1. 1. PPP Loan Forgiveness Calculation Form 3508EZ (Click here for application instructions)
      2. Required Documentation:
         1. Payroll: Documentation verifying the eligible cash compensation and non-cash benefit payments from the Covered Period or the Alternative Payroll Covered Period consisting of each of the following:
            • Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to
            • Tax forms for the periods that overlap with the Covered Period
              • 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
            • 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
         2. Nonpayroll: Documentation verifying existence of the obligations/services prior to February 15, 2020 and eligible payments from the Covered Period.
            • 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
            • 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
            • 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

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Per the official guidance from the SBA:

Providing an accurate calculation of the loan forgiveness amount is the responsibility of the borrower, and the borrower attests to the accuracy of its reported information and calculations on the Loan Forgiveness Application Form. Lenders are expected to perform a good-faith review, in a reasonable time, of the borrower’s calculations and supporting documents concerning amounts eligible for loan forgiveness.

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Uploading Your PPP Forgiveness Information:

As part of our commitment to customer service and information security, we are now using the CBOTS Cloud Portal to share information to/from customers. You must use this portal to upload your PPP forgiveness application and supporting documentation. This user-friendly portal provides enhanced security and immediate access. Please contact your CBOTS representative to obtain your invitation to access this secure portal.

We appreciate your business.