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First Oklahoma Bank

PPP Forgiveness

First Oklahoma is now accepting PPP Forgiveness applications for all PPP Loans disbursed in 2020 or 2021. Please review the Forgiveness Supporting Document Checklists linked below to ensure you are submitting for Forgiveness correctly, and to guarantee the quickest turn around time on your application.

Please Note: If you received a 2nd Draw PPP loan, we ask that you apply for Forgiveness of your 1st Draw PPP loan, prior to starting the Forgiveness Process on the 2nd.


Click here for a guide to our Secure Document Portal.
 
Please review the appropriate checklist below for your situation, as you must submit all relevant supporting documentation along with your Forgiveness Application.
 
 
 

Application Information

There are three different applications: 3508, 3508 EZ, and 3508S:
 
For customers with loans under $150,000, refer to the information below about the Form 3508-S.

3508S Application for borrowers who received a PPP loan of $150,000 or less. 


 

Forgiveness Information & Resources


Click here for the entire Interim Final Rules document as amended by the Economic Aid Act.
 
Click here for a Procedural Notice from the SBA regarding Loan Forgiveness Application resubmission. (Released 01.15.21)

Click here for a Procedural Notice from the SBA regarding excess loan amounts. (Released 01.15.21)

Click here for a helpful article from CNBC. (Released 12.10.2020)
 
Click here for an article about key PPP issues from the Journal of Accountancy.
 
Click here for a helpful article from the Journal of Accountancy.

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