C/A Summary of SBA Procedural Notice: Resubmissions of Loan Forgiveness Applications, Lender Notice Responsibilities, and Offset of Remittances:

Updated 01/20/2021

The following is a summary of the SBA Procedural Notice CONTROL NO.: 5000-20077 informing lenders of:

  1. the process for borrower resubmission of loan forgiveness applications using PPP Loan Forgiveness Application Form 3508S (SBA Form 3508S);
  2. lender responsibilities to notify borrowers of

    (a) lender decisions to deny forgiveness in full,

    (b) SBA loan review decisions and borrower appeal rights to SBA’s Office of Hearings and Appeals (OHA), and

    (c) SBA remittance of loan forgiveness payments; and

  3. lender responsibilities in the event of offset of PPP remittances to lenders by the Treasury Offset Program (TOP).

Members Can Download This Tool

Login to Download

Not Yet a Member?

Our members enjoy:

On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time 

Research time saved daily & weekly across forms, checklists, and trainings — for every regulation

Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff

A sounding board for support and reassessment when institutional goals or the regulatory environment changes

Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions

The knowledge that C/A was created and owned by 30 State Bankers Association to provide bank compliance services to their membership organizations

Find out how a personalized team of attorneys and compliance professionals helps build targeted compliance strategies throughout your institution when you take our Live Membership Demo.

Become a Member