Small Business Relief

Small Business Relief Programs

Minnesota Main Street COVID Relief Grants - Learn more or Apply today.

PPP Loan Forgiveness - SBA is now accepting applications for all PPP loans (1st and 2nd draw).

Please see the link below for access to the portal, and reference documents to help answer some questions. Live customer support for the portal is available at 1-877-552-2692, for any bank assistance needed please email sbaloans@thebankofelkriver.com so our team can get to you as quickly as possible.

SBA PPP Forgiveness:

• SBA PPP Direct Forgiveness Portal
• Direct Forgiveness Portal User Guide
• Borrower FAQs on Direct Forgiveness – SBA Forgiveness

Additional SBA programs through The Bank of Elk River

As an SBA preferred lender, we have the knowledge and expertise to utilize a variety of SBA programs to help grow your business. Learn More

SBA Paycheck Protection Program Forgiveness Applications

Please submit your application for forgiveness promptly after your covered period ends.

SBA Paycheck Protection Program Forgiveness Applications

Please submit your application for forgiveness promptly after your covered period ends.

1. PPP Loan Forgiveness Application 3508S for loans $150,000 and under
If your PPP loan amount is $150,000 or less, please fill out the following:

• 3508S - Forgiveness for Loans $150,000 and Under - Click here to download application.
• No supporting documentation is required to be submitted with your forgiveness application. You need to retain supporting documentation in your files for six years per the SBA

Once you have exhausted your PPP funds, please submit this completed application to sbaloans@thebankofelkriver.com upon completion.

2. PPP Loan Forgiveness Application Form 3508EZ
If your organization has a loan greater than $150,000 and has maintained your number of employees please submit the following application:

• PPP Loan Forgiveness Application Form 3508EZ - Click here to download application.

Once you have exhausted your PPP funds, please submit this completed application along with your Form 941’s for the covered period and all required documents as one package to sbaloans@thebankofelkriver.com upon completion.

3. PPP Loan Forgiveness Application Form Revised January 21, 2021
If your organization has a loan greater than $150,000 and has had a reduction in the number of employees, please fill out the following:

• PPP Loan Forgiveness Application Form Revised January 19, 2021 - Click here to download application.

Once you have exhausted your PPP funds, please submit this completed application and all required documents as one package to your lender upon the conclusion.

Additional SBA programs through The Bank of Elk River
As an SBA preferred lender, we have the knowledge and expertise to utilize a variety of SBA programs to help grow your business. Learn More

---