Paycheck Protection Program

Paycheck Protection Program Round 2 Forgiveness Update


Farmers National Bank appreciated the opportunity to process SBA Paycheck Protection Program (PPP) loans for many businesses in our communities. As many of our borrowers have cleared the end of their loan covered periods or are approaching the end, we wanted to take an opportunity to provide an update on the forgiveness process.


For PPP borrowers with loans over $150,000, we are awaiting the opening of the Vikar portal to initiate processing those forgiveness applications. Our Loan Officers will be contacting these borrowers directly with instructions on submitting their forgiveness applications through the portal once it is available. We anticipate Vikar will open the portal in early August to accept applications. To prepare in advance, please begin compiling all necessary documentation as proof of payroll costs and other eligible expenses spent during the loan covered period.


As you may be aware, the SBA has released information that their online website will soon be accepting forgiveness applications from borrowers with PPP loans of $150,000 and less. It is currently in the pilot phase and has not been launched to lenders. Farmers National Bank has decided to opt out of using this direct SBA application platform.


We have already initiated contact of many borrowers with loans of $150,000 and under using our internal process, which overall seems to be functioning smoothly for both borrowers and the bank. Therefore, we intend to continue our current approach of contacting borrowers individually to discuss the forgiveness process and complete the form together via telephone, followed up with electronic signatures. The process was initiated with the PPP loans, which closed earliest in February. We are progressing chronologically, so please be patient if you have not received a call or email to date.


If you have a PPP loan of $150,000 or less, have exhausted all funds, and are prepared to file for forgiveness, please contact Client Relationship Advisor LeaAnn Baucom at for further assistance.