OMB Control Number: 3245-0415
Exp
iration Date: 06/30/2021
LENDER CERTIFICATION FOR REINSTATEMENT OR CORRECTION
OF PAYCHECK PROTECTION PROGRAM (PPP) LOAN
A lender in the Paycheck Protection Program (PPP) can use this form to request (1) reinstatement of a PPP loan that was
cancelled in SBA’s ETRAN system due to the lender’s data input error, or (2) correction of the lender’s data input error in
the SBA Loan Approval Amount of a PPP loan on ETRAN. SBA will rely on the information submitted on this form to
evaluate the lender’s request.
SBA’s authority to approve new PPP loans expired on August 8, 2020. Under Section 145.3 of OMB Circular A-11,
Preparation, Submission, and Execution of the Budget (7/10/20), SBA may correct data input errors after program
authority expires. See also 31 U.S.C.
§ 1553(a). Other types of requests for PPP loan reinstatements or PPP loan amount
changes, such as reinstatements of PPP loans that were intentionally cancelled or requests for PPP loan increases, are not
permitted. Lenders are not required to submit this form for decreases in the SBA Loan Approval Amount of a PPP loan;
the lender can perform that function in SBA’s ETRAN system.
Following are examples of lender requests for reinstatement or correction that can be submitted on this form:
Reinstatement Examples
• Example 1: A lender approved a PPP loan and received an SBA loan number through ETRAN. The borrowe
r
s
igned a PPP note and sent it to the lender. The lender fully disbursed the PPP loan to the borrower. Wh
ile
a
ttempting to report the loan as fully disbursed, lender erroneously reported the loan as cancelled on SBA For
m
1502 i
nstea
d.
• Example 2: A lender approved a PPP loan and received an SBA loan number through ETRAN. The lender’s
s
ystem contained two applications from the same borrower. While attempting to delete the duplicativ
e
a
pplication from the lender’s system, the lender mistakenly cancelled the approved loan in ETRAN
.
L
ender Data Input Error Correction Examples
• Example 1: A lender approved a PPP loan and received an SBA loan number through ETRAN. The SBA Lo
an
A
pproval Amount in ETRAN was $100,800. The lender disbursed $100,800 to the borrower. The lend
er
m
istakenly decreased the SBA Loan Approval Amount in ETRAN to $100,400 and mistakenly reported tha
t
a
mount as disbursed on SBA Form 1502. The $400 decrease in the SBA Loan Approval Amount in ETRA
N
was a data input error by the lender, and the lender requests on this form that the SBA Loan Approval Amount
be restored to $100,800.
• E
xample 2: A lender approved a PPP loan and received an SBA loan number through ETRAN. The SBA Lo
an
A
pproval Amount in ETRAN was $590,000. Before loan closing, the lender determined that the corr
ect
m
aximum loan amount was $550,000, a difference of $40,000. The lender disbursed $550,000 to the borrower
.
When the lender corrected the SBA Loan Approval Amount in ETRAN, the lender mistakenly entered
$500,500 instead of $550,000. The lender requests on this form that the SBA Loan Approval Amount be
co
rrected to $550,000, the amount actually disbursed by the lender
.
T
his form must be signed and certified by a Senior Vice President or equivalent Authorized Lender Official of the
lender that is the current PPP lender of record. (The Senior Vice President or Authorized Lender Official must be
an officer of the lender and cannot be a Lender Service Provider.) The lender must submit a separate form for each
PPP loan for which a reinstatement or correction is requested. Submit this form and all supporting documentation to the
appropriate SBA Loan Center. SBA may request additional documentation after reviewing the form.
Paperwork Reduction Act – You are not required to respond to this collection of information unless it displays a currently valid OMB
Control Number. The estimated time for completing this questionnaire, including gathering data needed, is 30 minutes. Comments about
this time or the information requested should be sent to Small Business Administration, Director, Records Management Division, 409
3
rd
St., SW, Washington DC 20416, and/or SBA Desk Officer, Office of Management and Budget, New Executive Office Building,
Washington DC 20503. PLEASE DO NOT SEND FORMS TO THESE ADDRESSES.
SBA Form 3512 (12/2020)