Business resources available during Coronavirus Pandemic

September 23, 2020

Dear C&F Payroll Protection Program (PPP) Customer:

C&F Bank has begun working with customers to process PPP Forgiveness Request applications with the SBA. At this time, most of our PPP borrowers have not applied for forgiveness because of the potential for pending legislation that includes “Standalone Forgiveness” or a simple one-page customer attestation. This would greatly simplify the process requirements for customers with loans under a certain threshold – currently $150,000. We are closely monitoring developments with this legislation, are encouraging our elected representatives to support it, and we encourage our customers to do the same. We will keep you posted on developments as they occur and here are several other important updates for your information:

What’s my timeline for requesting forgiveness? Remember, Congress has extended the timeline for requesting forgiveness to 10 months after your chosen covered period ends-- not 10 months after when you first got your PPP loan. C&F has deferred any payments until after the SBA has made a final decision on your forgiveness application. 

  • That means you have plenty of time to get ready to request forgiveness.
  • How will I apply for forgiveness? We will provide you with a personalized link to our C&F PPP Client Portal which offers a streamlined electronic application when you’re ready to apply for loan forgiveness. This portal has been designed to simplify the completion of the forgiveness request application as much as possible and to help you maximize the amount of loan forgiveness.
  • What resources are you providing to C&F PPP customers starting the forgiveness process? Based on our research, it’s important to be aware of documentation needed for your application because information on your qualified payroll and non-payroll expenses will be used to calculate your forgiveness amount.

Supporting documentation of those expenses is required, so we have created a guide to help you prepare early for those requirements here: PPP Borrower Documentation Guide

We have also established a Client Resource Page to help you understand the entire process and answer key questions. Please feel free to review the site, which you can access here: C&F Bank - PPP Client Resource Page

  •  I’m ready to apply – what do I do now? Please contact the C&F Relationship Manager who helped you obtain your original PPP loan and they will provide you with a link to your personalized C&F PPP Client Portal when you’re ready to get started.

In closing, thank you once again for your relationship with C&F Bank. We are fortunate to have so many great business customers and we are committed to continue helping you through this tough time. Please don’t hesitate to call or visit us if you have any questions or concerns.


 Matthew's Signature

Matthew H. Steilberg
Director of Retail Banking
C&F Bank

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