PPP Forgiveness

Small Business Administration (SBA) Paycheck Protection Program (PPP)


Trustmark has prepared the portal to accept Form 3508S and will begin processing loan forgiveness applications for PPP loans less than or equal to $50,000 in December.

Customers with loans of $50,000 and less will be activated in phases based on loan funding date. You will not be able to submit your application until you will receive an email from Trustmark SBA Forgive with instructions to register for our online portal. This portal will provide an electronic template for you to populate your forgiveness information and attach supporting documentation. At a minimum, the following information will be pre-populated in the template:

  • Your SBA PPP Loan Number
  • Trustmark’s Lender PPP Loan Number
  • Your PPP Loan Amount
  • Your PPP Loan Disbursement Date

Once you enter the additional required information and attach supporting documentation, you will submit your application. The following steps will then occur:

  • Trustmark will have up to 60 days to conduct a review of your submission. Once we complete the validation, you will receive an electronic version of the SBA Forgiveness Application for your review. If satisfied, you will electronically execute a Borrower Certification, in which you will attest to appropriate and permissible use of your SBA Paycheck Protection loan. You must electronically sign this document in order to qualify for loan forgiveness and submit it to us.
  • Trustmark will receive your completed application and submit it to the SBA for approval. The SBA will have up to 90 days to review your application and issue a final decision of full or partial forgiveness to Trustmark. If the SBA determines only a portion of your loan is eligible for forgiveness, the SBA will remit only the approved forgiveness amount to Trustmark. Any remaining balance due, including the full balance if deemed ineligible, must be repaid, and you will be notified by the Bank of the forgiveness amount and the date on which your first payment is due. For loans not fully forgiven, Trustmark will prepare a loan modification agreement for you to execute electronically through DocuSign.

As has been common throughout the program, the potential for additional changes and/or updated guidance remains. Therefore, preparation on your part is key, and we recommend that you continue to collect and accurately maintain supporting documentation of your PPP fund usage, including:

  • Payroll – Retain payroll records and proof of ACH transfers. If you utilize a third-party payroll provider, be sure to save your payroll invoice that shows costs and employee benefits.
  • Utilities – Keep invoices and statements for electric, phone, internet, gas and heating providers.
  • Rent and mortgage interest – Maintain proof of payments.

Once you receive the email from Trustmark SBA Forgive with instructions to register for our online portal, you may find the following videos helpful in completing your forgiveness application:

For additional information, visit the US Treasury Department CARES Act Overview Page located at https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses.

Specific questions that you may have can be directed to our PPP Forgiveness customer service team at pppforgiveness@trustmark.com.