Payroll Protection Program (PPP) Forgiveness Request Resources
If you are a “Round 1” PPP borrower from 2020, now is the time to apply for loan forgiveness. Please submit your forgiveness application as soon as possible through our PPP Client Portal.
What’s my timeline for requesting forgiveness and when are my PPP loan payments due?
The timeline for requesting forgiveness is 10 months after your covered period (the time period to spend the PPP funds) ends.
For example: a borrower who received their PPP loan proceeds on April 15th, 2020 could choose a 24-week covered period, which would end on September 30th, 2020. From there, they then have 10 months to apply for forgiveness, which would end on July 30th, 2021.
If you do not apply, or only receive partial loan forgiveness, your loan payments will begin.
What steps will I take to complete the forgiveness application?
For resources and information on the process, please review our:
PPP Client Resource Page
What Documentation is Required on loans over $150,000?
Documentation is a critical part of the forgiveness process. There are several factors which determine your documentation requirements. For guidance, please review our:
PPP Borrower Documentation Guide