PPP Loan Forgiveness — Apply Now

At Frost, our customers are at the center of everything we do and we are proud to have helped many of them secure funds through the SBA’s Paycheck Protection Program (PPP) in order to help keep their businesses operational during these extraordinary times.

You are invited to use our online application portal, beginning March 5, 2021, to submit your PPP Loan Forgiveness application. You will use our online application portal to submit all of your forgiveness details and upload your supporting documents.

APPLY FOR LOAN FORGIVENESS

In order to protect your information, your PPP loan and PPP Loan Forgiveness application from unauthorized access and fraud, Frost can only provide credentials to access our PPP Loan Forgiveness Portal to the individual(s) that signed the Frost PPP Promissory Note for that loan. Please note, the PPP Loan Forgiveness Portal can only be accessed from the most current version of Google Chrome.

What to expect when you apply for PPP Loan Forgiveness with Frost

A dedicated PPP Loan Forgiveness Support Team ready to assist with the application process.

Step by step guidance about how to apply, required documentation and FAQs.

A central place to submit information, upload documentation and track your forgiveness request.

Easy steps to get started

Determine which application is right for you

The SBA has provided three different applications. The application that's best for you depends on the size of your PPP loan and how you used your funds. All forgiveness applications can be used for first and second draw loans. We've created a quick questionnaire to help you know which application is right for you::

FIND THE RIGHT APPLICATION

Become familiar with the application

We strongly recommend that you begin reviewing the version of the instructions and application that you are eligible to use and become familiar with them, as these will be used to help you complete Frost’s online application.

3508S Application
3508EZ Application
3508 Long Application
Purpose Simplified application for businesses that received a PPP loan of $150,000 or less. For borrowers who didn't reduce salary or wages of employees by more than 25% AND didn't cut the number of employees or paid hours
OR
borrowers who didn't reduce salary or wages of employees by more than 25% AND were unable to operate during the Covered Period at the same level of business activity before February 15, 2020, due to compliance with safety requirements related to COVID-19.
For borrowers who did reduce the salary or wages of employees by more than 25% and/or cut the number of employees or paid hours
Loan amount $150,000 or less $150,000 or more $150,000 or more
First and second round loans? Both Both Both
Expense calculations required? No Yes Yes
Documentation required? Second Draw borrowers must show a 25% revenue reduction Yes Yes
Resources View application and instructions View application and instructions View application and instructions

Gather required documents

Regardless of which application you use, having your required documentation ready will be imperative to submitting your forgiveness application to Frost successfully. You will need to upload documentation during the online application process. You can download and print the following resources to help you as you prepare to apply online:

Apply

When you are ready to apply, you will need to have the following information to access your loan forgiveness application:

  • The email address you used to apply for your PPP loan
  • Your SBA loan number. (See this example to locate your SBA loan number).

APPLY FOR LOAN FORGIVENESS

Frequently Asked Questions

Documents verifying the eligible* cash compensation from the Covered Period consist of the following:

Option 1. Third-party payroll report
Option 2. Form 941 reported or that will be reported
Option 3. Internal payroll report or bank statements

You must upload documents that cover the date range of your entire Covered Period. You may need to upload multiple documents and/or multiple types of documents to cover the date range.

* Eligible cash payroll compensation can be the sum of gross salary, gross wages, gross tips, gross commissions, paid leave (vacation, family, medical or sick leave, not including leave covered by the Families First Coronavirus Response Act), and allowances for dismissal or separation paid or incurred during the Covered Period.


Documents verifying eligible employer contributions to employee group health, life, disability, vision, or dental insurance, including employer contributions to a self-insured, employer-sponsored group health plan, but excluding any pre-tax or after-tax contributions by employees; employer contributions to employee retirement plans, excluding any pre-tax or after-tax contributions by employees; or payments for employer state and local taxes assessed on compensation, excluding any taxes withheld from employee earnings from the Covered Period consist of the following:

Healthcare and Retirement Contributions
Option 1. Account statements
Option 2. Payment receipts
Option 3. Cancelled checks

State and Local Taxes Assessed on Compensation
Option 1.
- Within Texas - Unemployment insurance tax filings reported or that will be reported
- Outside of Texas - State quarterly business and individual wage reporting, reported or that will be reported AND/OR Unemployment insurance tax filings reported or that will be reported
Option 2. Account statements
Option 3. Payment receipts or cancelled checks

You must upload documents that cover the date range of your entire Covered Period. You may need to upload multiple documents and/or multiple types of documents to cover the date range.


Documents verifying the eligible cash compensation to an owner-employee, a self-employed individual or general partner from the Covered Period consist of one of the following:

  • Tax Form 1040 Schedule C
  • Tax Form 1040 Schedule F
  • Tax Form 1065 Schedule K1

A 2019 document should be submitted for First Draw PPP loans made in 2020.
A 2019 OR 2020 document should be submitted for First Draw PPP loans made in 2021 and Second Draw loans.

If you are using the 3508 long application and payments were made to more than one owner-employee or general partner, you must also upload an owner-employees/general partners table with the name and amount paid to each.

You must upload documents that cover the date range of your entire Covered Period. You may need to upload multiple documents and/or multiple types of documents to cover the date range.


If you are using the 3508 long application, you must upload one of the following documents showing the average number of FTE employees on the payroll per week for one of the date ranges below:

Documents

  • Form 941 reported or that will be reported
  • State quarterly business and individual employee wage reporting, reported or that will be reported
  • Unemployment insurance tax filings reported or that will be reported

Date Ranges

  • Option 1. February 15, 2019 and June 30, 2019
  • Option 2. January 1, 2020 and February 29, 2020
  • Option 3. If a seasonal employer, you can choose from the timeframes above or any consecutive 12-week period between February 15, 2019 and February 15, 2020

If you are using the 3508S or 3508EZ application, you do not need to submit any FTE Calculation documentation.


You can provide one set of the following documents to substantiate your certification of a 25% gross receipts reduction:

Quarterly financial statements for the entity. If the financial statements are not audited, you must sign and date the first page of the financial statement and initial all other pages, attesting to their accuracy. If the financial statements do not specifically identify the line item(s) that constitute gross receipts, you must annotate which line item(s) constitute gross receipts.

OR

Quarterly or monthly bank statements for the entity showing deposits from the relevant quarters. You must annotate, if it is not clear, which deposits listed on the bank statement constitute gross receipts (e.g., payments for purchases of goods and services) and which do not (e.g., capital infusions).

OR

Annual IRS income tax filings of the entity (required if using an annual reference period). If the entity has not yet filed a tax return for 2020, you must fill out the return forms, compute the relevant gross receipts value (see Question 5), sign and date the return, attesting that the values that enter into the gross receipts computation are the same values that will be filed on the entity’s tax return.


If you are using the 3508 long or 3508EZ application, you must submit documentation verifying existence of the mortgage prior to February 15, 2020 and eligible payments, paid or incurred, from the Covered Period as listed below. If choosing Option 1, you will also need to provide a lender account statement for one month after the Covered Period ends.

Option 1. Lender account statements showing amount owed AND paid
Option 2. Lender account statements showing amount owed AND payment receipts or cancelled checks
Option 3. Lender amortization schedule AND payment receipts or cancelled checks

You must upload documents that cover the date range of your entire Covered Period. You may need to upload multiple documents and/or multiple types of documents to cover the date range.


Documentation verifying existence of the rent or lease prior to February 15, 2020, and eligible payments, paid or incurred, from the Covered Period are listed below. If choosing Option 1, you will also need to provide a lessor account statement for one month after the Covered Period ends.

Option 1. Account statements or invoices showing amount owed AND paid
Option 2. Account statements showing amount owed AND payment receipts or cancelled checks
Option 3. Copy of entire rent or lease agreement AND payment receipts or cancelled checks

You must upload documents that cover the date range of your entire Covered Period. You may need to upload multiple documents and/or multiple types of documents to cover the date range.


Documentation verifying existence of the utility prior to February 15, 2020, and eligible payments, paid or incurred, from the Covered Period consist of:

Option 1. Account statements or invoices showing amount owed AND paid
Option 2. Account statements showing amount owed AND payment receipts or cancelled checks
Option 3. Invoices showing amount owed AND payment receipts or cancelled checks

Eligible utilities include electricity, gas, water, transportation, telephone and/or internet access.

You must upload documents that cover the date range of your entire Covered Period. You may need to upload multiple documents and/or multiple types of documents to cover the date range.


Documents verifying payments made during the, Covered Period, for any business software or cloud computing service that facilitates business operations, product or service delivery, the processing, payment, or tracking of payroll expenses, human resources, sales and billing functions, or accounting of tracking of supplies, inventory, records, and expenses consist of the following:

Option 1. Invoices
Option 2. Orders
Option 3. Purchase orders

AND payments receipts, cancelled checks, or account statements verifying those eligible payments.


Documents verifying payments, during the Covered Period, for costs related to property damage and vandalism or looting due to public disturbances that occurred during 2020 that were not covered by insurance or other compensation consist of the following:

Option 1. Invoices
Option 2. Orders
Option 3. Purchase orders

AND receipts, cancelled checks, or account statements verifying those eligible payments, along with documentation that the costs were related to property damage and vandalism or looting due to public disturbances that occurred during 2020 and such costs were not covered by insurance or other compensation.


Documents verifying payments for expenditures made to a supplier of goods for the supply of goods that are essential to the operations of the Borrower at the time at which the expenditure is made, and made pursuant to a contract, order or purchase order in effect prior to the beginning of the Covered Period (for perishable goods, the contract, order or purchase order may have been in effect before or at any time during the Covered Period) consist of the following:

Option 1. Contracts
Option 2. Orders
Option 3. Purchase orders

AND payment receipts, cancelled checks, or account statements verifying those eligible payments.


Documents verifying operating or capital expenditures, made during the Covered Period, that the business made to comply with the requirements established or guidance issued by any federal, state or local government during the period starting March 1, 2020 and ending on the date on which the national emergency expires related to maintenance standards for sanitation, social distancing, or any other worker or customer safety requirement related to COVID-19, but does not include residential real property or intangible property, consist of the following:

Option 1. Invoices
Option 2. Orders
Option 3. Purchase orders

AND payment receipts, cancelled checks, or account statements verifying those eligible payments, along with documentation that the expenditures were used by the Borrower to comply with applicable COVID-19 guidance.


Once you have submitted your loan forgiveness application, you will need to retain certain documents for your records and allow authorized representatives of the SBA, including representatives of its Office of Inspector General, to access such files upon request. You might also need to provide documentation independently to Frost in connection with any regulatory requirements or in connection with an SBA loan review or audit. They types of documents that you are required to keep and then length of time you are required to keep them, varies by application. Please refer to the Instructions for Borrowers listed on the specific forgiveness application used to apply for forgiveness.


We're here to help.

We have specially trained staff on hand to help with any questions that come up.

Contact the PPP Loan Forgiveness Team at (800) 860-5481
Monday - Friday from 9 am - 7 pm CST.