Paycheck Protection Program (PPP) Forgiveness Portal FAQs

Information is current as of July 26, 2021.

For the latest information about SBA PPP loan forgiveness directly from the SBA, please visit this page.

  • Question

    I received a PPP loan from Sandy Spring Bank and am interested in applying for forgiveness. I received an email with a link to apply. What is the next step?

    Answer

    To access the PPP forgiveness application, click here, or log in using the link you received in the email. You’ll then see the dashboard. Click on Marketplace on the left and then click the “Apply” button for PPP forgiveness application.

  • Question

    What should I do before I start my application?

    Answer

    You may wish to complete the appropriate 3508 forgiveness form so that you have all of the information ready to enter into the portal. It is necessary to enter your information directly into the portal to apply for forgiveness. And, gather your backup electronic documents such as payroll register, bills/invoices and proof of payment for things like utilities, internet, or mortgage insurance in order to upload those documents to the portal. Your application will be processed faster if all of the required documentation is provided.

    SBA PPP application forms:

  • Question

    What is forgivable?

    Answer

    The CARES Act lists two categories of expenses that are forgivable: "Eligible payroll costs" and "Eligible nonpayroll costs". This means that your PPP loan is forgivable to the extent you spend the proceeds of your loan on these two categories, subject to possible reduction if you reduce the headcount and salaries of employees from pre-Covid-19 levels. Another important requirement is that you actually pay for or incur these expenses during the “covered period” or "alternative covered period" (if you qualify). Based on the Paycheck Protection Program Flexibility Act of 2020 signed into law on 6/5/20, at least 60% of the PPP Loan must be spent on "Eligible payroll costs" and up to 40% can be spent on "Eligible nonpayroll costs".

    Eligible Payroll Costs

    • Compensation to employees
    • Employer contributions for employee health insurance
    • Employer contributions to employee retirement plans
    • Employer state and local taxes assessed on employee compensation
    • Compensation to owner-employees/self-employed individual/general partner not included in compensation to employees.

    Eligible nonpayroll Costs

    • Interest on Covered Mortgages
    • Expenses for Rent or Lease Payments
    • Utility Expenses
  • Question

    Can I upload all my documents at once?

    Answer

    It is necessary to upload documents individually.

  • Question

    Do I have to apply for PPP forgiveness on the Sandy Spring Bank forgiveness application portal?

    Answer

    Yes, you must apply for forgiveness using the Sandy Spring Bank online forgiveness portal. We cannot accept paper forms or other types of forms.

  • Question

    I am uploading documents and getting an error message.

    Answer

    You can only upload one document at a time. Be sure to wait until the first one is finished uploading and then upload your next document. If you try to upload another file while the first is still uploading, you’ll get a “SERVER ERROR.”

    The Server Error displays because teh first document is still being uploaded. Wait for each file to finish uploading, before uploading another document.

  • Question

    Where do I find my Sandy Spring Bank PPP loan number?

    Answer

    Your PPP loan number will be pre-filled in the forgiveness portal.

  • Question

    Will I need my SBA PPP loan number?

    Answer

    Your Small Business Administration PPP loan number will be pre-filled in the Sandy Spring Bank forgiveness portal.

  • Question

    What is the NAICS code? Is this a mandatory field?

    Answer

    The NAICS code was developed by the Federal Statistical Agencies for the collection, analysis and publication of statistical data to the US Economy. It lists each business type and/or industry. You can find your NAICS code at: www.naics.com/search/. The NAICS code must be filled in on the PPP forgiveness application.
     

  • Question

    Can I save my application and come back to it? Will I lose the information I entered?

    Answer

    Yes. You can click the Save and come back later at the bottom of any page to save what you’ve entered. Then when you come back, expand the Incomplete Applications section on your dashboard to see the application that’s still in process. Click on it, and you’ll return to the last page you completed.

  • Question

    What is the status of my application?

    Answer

    Log into the portal and you’ll see “YOUR PRODUCTS” on the top-right side of the page. Click the drop-down arrow to the right to open the box and you’ll see the date you submitted your application, along with a visual progress bar.  Your application will move through these stages:

    Loan Status This means...
    Application Submission Sandy Spring Bank has received your submitted forgiveness application.
    Under Review The Sandy Spring Bank team is doing a thorough review and evaluation of your forgiveness application and all of the documentation you submitted. 
    Client Communication Pending Your application is now with our Client Communication team, and you’ll soon be notified with the results of our evaluation prior to submitting your application to the SBA
    SBA Pending Your application and our decision has been submitted to the SBA, and we are waiting for the SBA to evaluate your application
    SBA Decision We have received the SBA’s decision and will contact you.
    Complete Forgiveness application process is complete.

    Welcome to your dashboard. Upload Documents section and Your Products section.

    Your Products with status indicator

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