COVID-19 Resources

Please check this page regularly for updates. We will continually update it as we receive more information from the SBA.
Last updated August 4, 2021 at 5:50 pm CST.

PPP Loan Forgiveness

The SBA has released revised guidance on PPP Loan Forgiveness for Borrowers. The Forgiveness application requires Borrowers to submit to the Lender (Wallis Bank).

We recommend you have a copy of your loan documents when you fill out these forms as the information contained on the first page will be helpful. See sample below.

As the information asked on these forms is specific to your business, we recommend that you check with your accountant for specific questions regarding amounts within the forms.

Once we receive your request for Forgiveness, we will process the request and then submit the request to the SBA on your behalf within 60 days. The SBA has up to an additional 90 days to respond to the request. As such, we ask that you wait a minimum of 120 days before inquiring about the status of your forgiveness. If your loan is forgiven, you will receive correspondence from us alerting you to the amount of forgiveness approved by the SBA and your responsibilities for the remaining portion of your loan should there be a balance.

Electronic submissions for forgiveness can be sent to us at PPPForgivenessSubmissions@wallisbank.com.

Forgiveness Forms

For PPP Loans $150,000 or less, PPP Forgiveness Form 3508S can be found below.

If you do not qualify to use Form 3508S, please read the checklist below to determine which PPP Forgiveness application is needed.

The PPP Forgiveness Application Form 3508EZ can be found below.

For borrowers that do not meet the criteria to apply using the Forgiveness Application Form 3508EZ, the PPP Forgiveness Application is below.

Any additional updates to these forms including and potential FAQ’s from the SBA will be posted here for your reference as they become available. Questions on PPP Forgiveness can be sent to PPPForgivenessQuestions@wallisbank.com.

Economic Injury Disaster Loan (EIDL)

For resources and information about disaster assistance, visit the SBA Disaster assistance page.  To apply for EIDL, click here.