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Paycheck Protection Program Important Information

General Information to Know

Farmers National Bank would like to take this opportunity to provide a general overview of what borrowers can expect during the Paycheck Protection Program (PPP) forgiveness phase:

  • Farmers National Bank has established an online portal for PPP forgiveness applications to be completed and corresponding documents uploaded
  • Borrowers will be invited to the portal based on the date of PPP loan closing (Applications will tentatively be accepted starting Monday, August 17, 2020)
  • On Monday of each week, the selected borrowers will receive a direct call from a Farmers National Bank Commercial Loan Officer in order to notify the borrower is the invitation and to assist with questions. The borrower will also be provided an informational package via email to include SBA applications and a checklist of required documents
  • On Tuesday of each week, the selected borrowers will receive an email containing the link to the PPP Forgiveness portal and access information to include the username(s) and temporary password(s) to log-in and complete the forgiveness application online
  • Once the borrower has completed the application and uploaded required documents in the portal, all information will be submitted to the Bank via the portal
    • Should any borrower be unable to utilize the portal, the assigned commercial loan officer will provide other venues to submit your PPP Loan Forgiveness Application and supporting documentation
  • The Bank will review the contents of the submission and request additional information from the borrower as needed
  • The Bank will render a decision regarding the application, communicate the same to the borrower and upon concurrence will submit the forgiveness request to the SBA for approval
  • Borrowers will be notified of SBA approval decisions (Please note, should a portion of the PPP loan be determined as unforgiven, borrowers may contest the approval decision, a process is in place to assist you should this occur)  

 Additional Updates from the SBA

The below revisions to the Paycheck Protection Program were previously issued: 

  • Borrowers that use less than 60% of their PPP loan amount for payroll costs during the forgiveness covered period will still be eligible for partial loan forgiveness – in other terms, you may utilize up to 60% of the PPP Loan Funds for payroll related expenditures and 40% on mortgage interest expense, rent, and / or utilities
  • Extends the end date of the “covered period” for a PPP loan from June 30, 2020 to Dec. 31, 2020
  • Provides a five-year maturity for loans made on or after June 5, 2020, and provides an option for loans made prior to that date to modify their PPP loan and move from a two-year maturity to a five-year maturity contingent upon mutual agreement between the borrower and lender
  • Extends the loan forgiveness covered period from 8 weeks to 24 weeks. (For loans made prior to June 5, 2020, borrowers may opt to retain the forgiveness covered period at eight weeks)
  • Clarifies that if a borrower submits its forgiveness application within 10 months of the end of the loan forgiveness covered period, the borrower will not have to make any payments on the loan before the date SBA remits the forgiven amount to the lender

Documents Required to Request Forgiveness through Farmers National Bank

 Payroll Expense Verification:

  • Copies of payroll reports for each pay period’s gross wages
    • Include Paid Time Off (“PTO”): vacation, sick, and other PTO
  • Copies of payroll tax reports filed with the IRS, State and Local Taxing Authorities
    • Include IRS Form 940/941, State Income Tax and Unemployment Tax Filing Reports
  • Documentation evidencing the health insurance premiums paid by the Company under a group health plan, including owners of the company (if applicable) 
    • Monthly invoices are enough if it clearly identifies the employer’s portion of the premium
  • Documentation of all retirement plan funding by the employer (if applicable)
    • Copies of workpapers, schedules and remittances of the retirement plan administrator should be furnished
  • For Single Member LLC’s or Sole Proprietors (if applicable):
    • Copy of bank statements illustrating the account whereby PPP loan funds were deposited / housed and the transfer of the same to the sole member’s / proprietor’s personal account

Other Eligible Expenses:

  • Business Rent or Lease Payments (if applicable)
    • Copies of all fully executed lease agreements for real estate and / or tangible personal property along with proof of payment (i.e. copy of cancelled check, auto-draft from designated bank acct, etc.)
  • Business Mortgage Interest Payments (if applicable)
    • Copies of all statement(s) of interest paid on debt obligation(s) incurred prior to February 15, 2020 indicating payment amounts and proof of payment during the testing period.
    • Copies of the promissory note and / or loan statement on each note whereby PPP loan funds were used to pay the monthly interest amount
  • Business Utility Payments (if applicable)
    • Copies of the utility bill(s) invoices from February 2020 and those paid with loan funds
    • Copies of receipts, cancelled checks, bank statements or other evidence of utilities paid with PPP loan funds 

Optional Full-Time Employee (FTE) Documentation:

 The following are optional documents which may be provided to the SBA to verify average FTE count but, if not provided must be retained in the business records to be furnished upon SBA request.

  • Copies of documentation showing average number of full-time employees from 2/15/2019 to 06/30/2019
  • Seasonal employer requirements
    • Copies of documentation showing average number of full-time employees per month from 2/15/2019 to 06/30/2019
    • Copies of documentation showing average number of full-time employees per month from 01/01/2020 to 02/29/2020


  • opies of documentation showing average number of full-time employees per month from any consecutive 12-week period between 05/01/2019 09/15/2019

Important Information to Keep in Mind 

  • Forgiveness must be requested through Farmers National Bank. It is not automatic.
  • Borrowers will be required to verify the following information in the portal, please have the following information available: 
    • SBA PPP Loan Number
    • Farmers PPP Loan Number
    • Funded PPP Loan Amount
    • PPP Loan Disbursement Date
  • All other applicable sections requiring input are the responsibility of the Borrower
  • Borrowers need to certify and document that the loan funds were used for SBA-eligible purposes
  • Payments will not be required until the SBA provides a decision on the forgiveness request or remits the funds. This could take up to five months for Farmers National Bank and the SBA to review most complete applications(Actual times may vary.)
  • After the forgiveness request is submitted, the borrower may check the status of the Forgiveness application online within the portal
  • Once the SBA issues a forgiveness decision, the borrower will be notified

As the Borrower, it is your obligation to understand the SBA's rules. Other SBA eligibility requirements may apply. Farmers National Bank and its affiliates do not provide tax or legal advice. Please consult tax and legal advisors to determine how this information may apply to your own situation.

Need Assistance

Based upon the county your business resides in, please contact one of the below Commercial Loan Officers for questions regarding the forgiveness process:

  1. Clearfield, Elk, Jefferson or Mercer County

Drew Nedzinski – VP/Commercial Loan Officer

Phone: 814.591.3844

2.  Allegheny, Butler, or Hancock (WV) County

Randall LaBrie – VP/Commercial Loan Officer

Phone: 412.377.2668

3.  Clarion, Crawford, or Venango County

Rob Foust – SVP/Senior Commercial Loan Officer

Phone: 724.290.6230

4.  Outside of Any of the Above County Designations

Rick Grejda – VP/Senior Commercial Portfolio Manager

Phone: 724.290.0230