We are proud to have assisted so many clients that chose to participate in the CARES Act Paycheck Protection Program (PPP). We began assisting clients on the first day of the program and to date, we’ve assisted more than 6,500 businesses with more than $900 million in funding. We look forward to assisting these clients as they move through the loan forgiveness process next. 

PPP Loan Forgiveness Process

We are ready to help you apply for forgiveness of your Paycheck Protection Program loan. We have created an automated process which will allow you to complete the PPP Loan Forgiveness application online and upload any required documents. This will make applying for forgiveness easy and will negate the need for you to complete a paper application from the Department of Treasury’s website.

We are waiting for the SBA to accept forgiveness loan applications from lenders. As soon as we receive their approval to do so, we will email you a personalized link which you may use to apply for loan forgiveness.

Important considerations BEFORE you apply for PPP loan forgiveness:

  • The deadline to apply for forgiveness has been extended to at least December 31, 2020, so you have time to prepare and apply for forgiveness.
  • There have been, and continue to be, updates from the SBA and Department of Treasury on the PPP loan program. You can find frequently asked questions, other information, and links to many of these updates on this page. 
  • Although you will apply for loan forgiveness using the automated link we will provide, it is important to familiarize yourself with the PPP loan forgiveness application and instructions. You may access them from the Department of Treasury's website.
  • We have created two videos to guide you through the First Financial Bank’s automated loan forgiveness process. You'll find these videos below. For additional resources, please consult the Department of the Treasury’s detailed FAQ document. 

You should only apply for forgiveness once, so it’s important to read the materials, gather your documents and prepare to complete the forgiveness application ahead of time. If you have any questions, please reach out to our special PPP Loan client mailbox SBAforgivenessquestions@bankatfirst.com.

Please continue to check this web page for updates. 

We look forward to emailing you a link to the automated forgiveness application as soon as the SBA provides approval for us to begin accepting applications.

Thank you for choosing First Financial Bank as your banking partner. 

Paycheck Protection Program Eligibility:
  • You are a small business (including sole proprietorships, independent contractors and eligible self-employed individuals), a nonprofit as described in section 501(c)(3) of the IRS Code that is exempt from taxation under section 501(a) of the Code, a veterans' organization (501(c)(19) or a tribal concern.

  • You were in operation on 2/15/2020 and paid salaries and payroll taxes or paid independent contractors (reported on a 1099).

  • You employ 500 or FEWER employees OR your business is an industry that has an employee-based size standard through SBA that is higher than 500 employees.  If you are a restaurant, hotel or business that falls in the SBA NAISC code 72 – Accommodation and Food Service and each of your locations has 500 employees or fewer, you are also eligible.
  • Nonprofit organizations are subject to the SBA’s affiliation standards. Independently owned franchises with under 500 employees, who are approved by SBA, are also eligible. Eligible franchises can be found through SBA’s Franchise Directory.

For more information, listen below to First Financial Bank's CARES Act SBA Paycheck Protection Program webinar, recorded April 9, 2020. You'll learn about program highlights and hear responses to questions from webinar participants.

Program highlights:
  • Forgivable loans covering 2 ½ months of payroll costs up to $10 million.

  • Interest rate of 1% fixed for the life of the loan.

  • SBA upfront guaranty fee is waived for this program (regular 7a loans do not have any waiver).

  • The term of the loan is two years (this applies toward any balance that is not forgiven).

  • Loan payments deferred no less than six months. No collateral required.

  • No personal guaranty required.*

    *If loan proceeds are used for purposes not authorized by the law, the government will have recourse against a shareholder, member. or partner of a borrower.
SBA Economic Injury Disaster Loan and Loan Advance

The SBA Economic Injury Disaster Loan and Loan Advance is a direct application process that can be found here. The SBA is being inundated with applications for this program and is processing as fast as possible. Be aware that clients using this program can expect delays. More information on this process is available here.

Payment Relief for Current First Financial SBA Loan Clients

First Financial Bank is offering deferment on many loan payments, which provides support and relief to our existing SBA Loan clients. In addition, the CARES Act Small Business Administration (SBA) Debt Relief Program provides relief for existing SBA loan holders. Six consecutive monthly payments will be made by the SBA, beginning with the April payment. These SBA payments will be made on the client’s behalf and there is no expectation for the client to repay them. Current First Financial SBA (7a) loan clients will receive a letter detailing the relief provided to them. Please refer to the letter you receive for complete details. Answers to frequently asked questions about this program are available here.