Forgiveness Application Tips - First Metro Bank

Forgiveness Application Tips

Copy of Copy of Copy of Copy of sba ppp loan forgiveness information 4

 First Metro Bank is steadily working through the SBA PPP Loan Forgiveness applications. The submission process is not difficult; however, we have discovered a few tips that will be helpful as you complete your application.

1. Please be sure to include only documents that support the Payroll and Non-payroll Costs included on the Forgiveness Application. This makes the verification process much faster and we can get your application submitted much more quickly. For example, if you submit cancelled checks showing records of business utility payments paid or incurred during the covered period, please include only those check copies instead of copies of all cancelled checks, OR highlight/mark the checks that are being used to derive the numbers on the application.

2. The Covered Period (or Alternative Covered Period) on the application can only be 24 weeks (168 days) or 8 weeks (56 days). The forgiveness portal will not allow us to submit any application with a Covered Period or Alternative Covered Period of anything other than exactly 56 or 168 days. For example, if you choose to extend your Covered Period to 24 weeks but utilize all funds in week 11, your application must still show a Covered Period (or Alternative Covered Period) of 168 days. You do not have to provide any documentation past week 11 as that is when all the funds were depleted, but the Covered Period (or Alternative Covered Period) on the application will still be 24 weeks.

3. If you’re unsure of the SBA PPP Loan Number or the Lender PPP Loan Number, we can get that information for you. Simply call First Metro Bank’s Pine Street Office at 256-314-1644 and ask for Tony Brewer, Jon Pannell, Alana Parker, Shelby Patterson, or Kristy Vickery. Anyone on our SBA PPP Loan Team will be happy to provide you with that information.

4. If you’d like, you can securely email forgiveness packets directly to our SBA PPP Loan Forgiveness Team at This email address is being protected from spambots. You need JavaScript enabled to view it.. These emails will be forwarded directly to members of the First Metro Bank SBA PPP Loan Forgiveness Team. When we receive the application, we will respond to let you know we’ve received it.

5. One of the most common errors we are seeing occurs when calculating Potential Forgiveness Amounts. Please pay special attention to line 7 on the SBA Form 3508EZ Form or, if you’re using SBA Form 3508, please pay special attention to line 10.  These lines should be Payroll Costs divided by 0.60; however, we are seeing numerous instances where Payroll Costs are being multiplied by 0.60 or where Payroll and Non-payroll Costs are combined and then divided (or multiplied) by 0.6.

6. Lastly, if you have any questions, please reach out to us. You can contact the First Metro Bank SBA PPP Loan Forgiveness Team by calling the First Metro Bank Pine Street Office at 256-314-1644 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..