On January 19, 2021, the SBA released a streamlined loan forgiveness application for Paycheck Protection Program loans totaling $150,000 or less.  Fifth Third’s online self-service portal has been updated to accommodate this new application.

When providing bank statements, include sufficient detail to show who received the funds.

When including non-payroll expenses, don’t forget the SBA requires non-payroll documentation that proves existence prior to 2/15/2020.

Did you know that recipients of PPP loans can claim the Employee Retention Credit?  Payroll costs reported on your loan forgiveness application should not include qualified wages taken into account in determining the Employer Retention Credit.


When submitting required supporting documentation, verify that your business name is reflected on the document.

Resources to navigate the loan forgiveness process

The Paycheck Protection Program (PPP) has been implemented by the Small Business Administration with support from the Department of the Treasury.  This program provides small businesses with loans that can be forgiven in whole, or in part.  These funds can be used to pay up to 24 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, utilities, operations expenditures, property damage costs, supplier costs and worker protection.

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

The tools and resources on this site provide specific guidance on how to best navigate and prepare the information needed to complete the loan forgiveness application process yourself, or with your adviser(s).

Informational videos, checklists, FAQs and webinars have been customized by business type to make the loan forgiveness application process simple and easy.

Best Practices for Preparing for PPP Loan Forgiveness

  • Step 1: Review the materials for your entity type on this site

  • Step 2: Identify the proper loan forgiveness application for you

  • Step 3: Prepare your calculations

  • Step 4: Gather the required supporting documentation for Simplified,* EZ or Standard applications
    *For PPP loans totaling $150,000 or less

  • Step 5: Await an email from Fifth Third Bank with forgiveness application instructions

  • Step 6: Apply for PPP loan forgiveness

Fifth Third Bank, National Association and Aprio provide the following content as general guidance offered on an informational basis to assist you and your company in evaluating the SBA programs. Due to the evolving nature of the SBA programs, and the lack of final published regulations, additional changes may affect the validity or timeliness of the content. Every client situation is unique, so Fifth Third Bank and Aprio recommend that you consult legal counsel to determine the best outcome for your company based on your company’s specific circumstances. Aprio does not represent any financial institution or serve as an agent for any financial institution, and Aprio is not responsible for the actions of any other third party.