Farmers Savings Bank

PPP Loans

Updated: March 22, 2021

Thank you for choosing FSB to process your Paycheck Protection Program loan. We appreciate the confidence you have put in us. The latest forgiveness applications are listed below in Fillable PDF Format. Please submit the applicable form as soon as you have exhausted your PPP funds.

Updated Forgiveness Application and Instructions for 1st and 2nd Draw Loans

The same applications are used for 1st and 2nd Draw Loan Forgiveness.

Loans under $150,000 - Form 3508S
Please fill and print out this application.

Loans over $150,000 - Form 3508EZ*
Please fill and print out this application.

*Form 3508EZ applies to borrowers who meet any one of these three criteria:

  1. Applied for the PPP loan as self-employed, an independent contractor or a sole proprietor with no employees.
  2. Did not reduce salary or wages for any employee by more than 25%, and did not reduce the number or hours of their employees (excepting laid-off employees who refused an offer to return).
  3. Did not reduce salary or wages for any employee by more than 25% during the covered period and experienced reductions in business activity as a result of health directives related to COVID-19.

As always, please don't hesitate to give us a call if you should have questions as you move through the process. Applications and information can also be found on the following websites:

Small Business Application and Disaster Relief Information

Please pay particular attention to the, the and Iowa Economic Development Websites!!

U.S. Department of Treasury, Assistance for Small Businessess: Click Here

SBA (Small Business Adminstration) asssistance: Click Here

COVID- 19 Iowa Business Recovery asssistance: Click Here