PPP Loan Forgiveness

Loan Details & Forgiveness 

F&M Bank & Trust is working with our clients who have Paycheck Protection Program Loans to receive forgiveness through the Small Business Administration (SBA).  
Below you will find details on what documentation you need to provide, instructions and the application.  The deadline to apply is October 31, 2020.  

Payroll Documentation:

  • Documentation verifying the eligible cash compensation and non-cash benefit payments from the covered period such as bank account statements or third party payroll service provider reports documenting the amount of cash compensation paid to employees,
  • Tax forms or equivalent third-party payroll service provider reports for the periods, such as payroll tax filings reported or that will be reported to the IRS and state quarterly business and individual employee wage reporting and unemployment insurance tax filings reported, or that will be reported, to the relevant state. 
  • Payment receipts, cancelled checks or account statements documenting the amount of any employer contributions to employee health insurance and retirement plans that you included in the forgiveness amount. 

Non-payroll Documentation:

  • Documentation verifying existence of the obligations/services prior to February 15, 2020 and eligible payments from the covered period (Remember this only applies if you included non-payroll expenses in the amount for which you are trying to seek forgiveness)
  • Business Mortgage interest payments: Copy of lender amortization schedule and receipts or cancelled checks verifying eligible payments from the Covered period or lender account statements verifying interest amounts and eligible payments
  • Business rent or lease payments: Copy of current lease agreement and receipts or cancelled checks verifying eligible payments from the covered period.
  • Business utility payments: Copy of invoices from Feb 2020 and those paid during the covered period and receipts, cancelled checks or account statements verifying those eligible payments. 

PPP Loan Forgiveness Applications & Instructions

PPP Loan Forgiveness EZ - Download: Instructions & Application
(The above Instructions & Application is for self employed individual, independent contractor or sole proprietor
PPP Loan Forgiveness - Download: Instructions & Application
(The above Instructions & Application is for employers who have employees)
For more information about the PPP Loan Forgiveness, visit the U.S. Small Business Administration @ www.sba.gov/.  


Questions or need help completing the PPP Loan Forgiveness Application, contact our team to help you.

Sue Sorensen

Vice President /
Commercial Loan Officer


Contact Sue

Todd Edwardson

Vice President / Ag & Commercial
Loan Officer


Contact Todd

Tom Burch

Assistant Vice President / Consumer Loan Officer


Contact Tom