Small Business Assistance

PPP Loan Forgiveness

SBA Paycheck Protection Program Loan Forgiveness Information

We remain focused on providing our borrowers the best service possible, and we appreciate the trust you place in us. Please continue to visit this page often for updates regarding PPP forgiveness. We will continue to monitor proposed legislation in Congress that could significantly simplify the forgiveness process for many borrowers, and will keep you informed of any changes that could impact you.

Updates to the Paycheck Protection Program – Form 3508S
On Thursday, October 8, 2020, the Small Business Administration released a much-anticipated streamlined loan forgiveness application for PPP loans totaling $50,000 or less. South State is reviewing the new application, Form 3508S, and developing processes to support our borrowers. At this time, we are not currently accepting applications using the 3508S forgiveness application. We anticipate sending future communication to borrowers when we are able to support the new application.

PPP Loan Forgiveness Has Started

Our PPP forgiveness process is underway, as we begin inviting borrowers to start the online application process. To ensure a smooth experience for all borrowers applying for PPP forgiveness, we will be inviting borrowers to begin the application process in phases.

An email will be sent to the primary authorized representative on each PPP loan to begin the application process through our self-service, digital PPP Forgiveness Platform. If you have not received an email to begin the online application, do not worry. We are confident you will have plenty of time to request forgiveness. Should you have any concerns, please call Paycheck Protection Program Support at (844) 238-9452.

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PPP Forgiveness Process Overview

We know you may be eager to begin the forgiveness process. But first, it's important to determine whether you're eligible to apply and whether now is the right time. Please consult your CPA or accountant, and/or legal professionals, for assistance.
Please note, should you choose not to apply for loan forgiveness before the deferral period ends, you will be required to make principal and interest payments on your loan per your loan agreement. You may pay your PPP loan off in full without penalty at any time.
Loan Forgiveness Preparedness

Learn about what you should consider prior to applying for forgiveness and the documentation you may need to prepare.

Online Forgiveness Application

Forgiveness applications will be accepted electronically through our self-service, digital PPP Forgiveness Platform.

SBA Review

Upon receipt and review of your application by SouthState, it will be sent to the SBA. The SBA will render a final decision on your application, which we will share with you once received.

  1. The information provided does not, and is not intended to, constitute legal advice. All information is for informational purposes only, is subject to change and may not constitute the most up-to-date information. You should contact your legal advisor to obtain advice with respect to any particular legal matter, and you should not act or refrain from acting on the basis of information contained herein without first seeking advice from your attorney. All liability with respect to actions taken or not taken based on the information contained herein is expressly disclaimed.

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