PPP Loan Forgiveness 2nd Draw

SBA Form 3508S (for Second Draw loans only)

Thank you for your being a customer of First Hawaiian Bank and for partnering with us on your PPP loan.

Please complete the fields below to apply for forgiveness

Instructions and Important Information

  1. This application is only for 2nd draw PPP loan forgiveness.
  2. The person who initials and signs this form must be an Authorized Representative of the Borrower.  An Authorized Representative is someone who has authority to take action on behalf of and to legally bind the Borrower.
    Type of Borrower Examples of Authorized Representative
    • Corporation
    • Nonprofit
    • President
    • Vice-President
    • Secretary
    • Treasurer
    • CEO
    • COO
    • CFO
    • Executive Director (only for nonprofits)
    LLC
    • Member Manager (for a member-managed LLC)
    • Manager (for a manager-managed LLC)
    Partnership
    • Partner
    • General Partner
    • Limited Partner
    • Sole Proprietor
    • Independent Contractor
    • Self-Employed Individual

    The borrower must be the Authorized Representative. Select "Owner" as the Authorized Representative's title.
  3. In an effort to streamline the forgiveness process, we are only collecting key fields from the 3508S (the SBA’s forgiveness form for PPP loans of $150,000 and less). We will pair the information collected below with information that we have on file from your PPP loan application. After we review your submission, we will contact you about any questions or concerns.
  4. You will have the opportunity below to indicate if you want to change any of the information that we have on file and will use to prepare the 3508S.

Forgiveness Information

Enter the TIN of the Borrower applying for loan forgiveness.  Enter the same TIN that the Borrower used when it applied for its PPP loan.

Please use our calculator tool (Click Here) to help you determine this date

This should be equal to your original PPP loan amount IF you would like to apply for 100% forgiveness

Must be at least 60% of Requested Loan Forgiveness Amount. See FHB FAQs for more details

Certifications

The Authorized Representative of the Borrower certifies to all of the below by initialing after each one.

          The Borrower has complied with all requirements in the Paycheck Protection Program Rules (Sections 7(a)(36), 7(a)(37), and 7A of the Small Business Act, the PPP interim final rules, and guidance issued by SBA through the date of this application), including the rules related to:

  • eligible uses of PPP loan proceeds;
  • the amount of PPP loan proceeds that must be used for payroll costs (including proprietor expenses for Borrowers that applied for loans using SBA Forms 2483-C or 2483-SD-C);
  • the calculation and documentation of the Borrower’s revenue reduction (if applicable); and
  • the calculation of the Borrower’s Requested Loan Forgiveness Amount.

          Information regarding these requirements can be found in the Form 3508S Instructions (Click Here) and the Paycheck Protection Program Rules.

           The information provided in this application is true and correct in all material respects. I understand that knowingly making a false statement to obtain forgiveness of an SBA-guaranteed loan is punishable under the law, including 18 U.S.C. 1001 and 3571 by imprisonment of not more than five years and/or a fine of up to $250,000; under 15 U.S.C. 645 by imprisonment of not more than two years and/or a fine of not more than $5,000; and, if submitted to a Federally insured institution, under 18 U.S.C. 1014 by imprisonment of not more than thirty years and/or a fine of not more than $1,000,000.

           I understand that the Borrower’s eligibility for loan forgiveness will be evaluated in accordance with the Paycheck Protection Program (“PPP”) regulations and guidance issued by SBA through the date of this application. SBA may direct a lender to disapprove the Borrower’s loan forgiveness application if SBA determines that the Borrower was ineligible for the PPP loan.

           I understand that First Hawaiian Bank’s (the “Bank”) decision on the Borrower’s forgiveness application is subject to review by the SBA. The SBA has the right to change the Bank’s decision, which could include reducing the amount of forgiveness that the Borrower receives.

           I understand that if the PPP loan is not forgiven in full, the Borrower will need to begin making payments of principal and interest under the PPP loan after the SBA remits the loan forgiveness amount to the Bank (or notifies the Bank that no loan forgiveness is allowed). The Bank will notify the Borrower when the first payment is due. If the Borrower did not apply for forgiveness before the end of the deferment period, then the Borrower must begin making payments of principal and interest under the PPP loan at the end of the deferment period. The deferment period ends 24 weeks and 10 months after the date when the PPP loan was funded.

Optional PPP Borrower Demographic Information

Disclosure is voluntary and will have no bearing on the loan forgiveness decision

Instructions

  1. Purpose. Veteran/gender/race/ethnicity data is collected for program reporting purposes only.
  2. Description. This form requests information about each of the Borrower's Principals.
  3. Definition of Principal. The term "Principal" means:
      - For a self-employed individual, independent contractor, or a sole proprietor, the self-employed individual, independent contractor, or sole proprietor.
      - For a partnership, all general partners and all limited partners owning 20% or more of the equity of the Borrower, or any partner that is involved in the management of the Borrower's business.
      - For a corporation, all owners of 20% or more of the Borrower, and each officer and director.
      - Any individual hired by the Borrower to manage the day-to-day operations of the Borrower ("key employee").
      - Any trustor (if the Borrower is owned by a trust).
      - For a nonprofit organization, the officers and directors of the Borrower.
  4. Principal Name. Insert the full name of the Principal.
  5. Position. Identify the Principal's position; for example, self-employed individual; independent contractor; sole proprietor; general partner; owner; officer; director; member; or key employee.

Updates to Existing Information

We will prepare the forgiveness submission to the SBA using certain information that we already have on file from your most recent approved PPP loan application.  Please let us know if any of the following have changed from the time you obtained your most recent PPP loan.  You can review your signed PPP loan application (SBA Form 2483, 2483-C, 2483-SD, or 2483-SD-C) to see the information that we have on file.

Business Legal Name
DBA or Tradename
Business Address
NAICS Code
Business Phone
Primary Contact

Note: If you check the box to indicate changes, it will require additional manual follow-up from a specialized PPP resource from the Bank.

Sign and Submit

The person submitting this forgiveness application (the “Application”) certifies that: (1) s/he is the Authorized Representative of the borrower of the PPP loan that is the subject of this forgiveness request (the “Borrower”); (2) as the Borrower’s Authorized Representative, s/he is authorized to execute and deliver this Application on behalf of the Borrower; (3) submission of this Application by clicking the button below is the electronic equivalent of his/her signature on this Application in his/her capacity as the Borrower's Authorized Representative; and (4) all information and documents submitted are true, correct, and complete. The Authorized Representative acknowledges on behalf of the Borrower that: (a) if additional information becomes available that would have influenced the Bank's decision to approve this Application, the Bank reserves the right to withdraw any such approval; (b) the Bank will combine the information provided in this Application with the information that the Bank has on file from the Borrower’s PPP loan application (the “Prior Information”) in order to prepare the Borrower’s forgiveness submission to the SBA; (c) unless the Authorized Representative has indicated above that changes need to be made to the Prior Information, the Prior Information is still true and correct and can be used by the Bank in preparing the Borrower’s forgiveness submission to the SBA; and (d) the person who was previously designated by the Borrower as the Borrower’s primary contact will continue to be the person who receives all communications from the Bank.