Payroll Protection Program (PPP) Resources for Borrowers

This page contains frequently asked questions and information to answer PPP questions. This includes PPP forgiveness and the new, recently approved, second round PPP Loan Program.

Page updated on 5/5/2021

New Payroll Protection Program (PPP) Loan Information

The Small Business Administration has stated that Paycheck Protection Program funding has been exhausted and that the PPP application portal stopped accepting applications for new PPP loans.

Payroll Protection Program (PPP) Forgiveness Request Resources 

My PPP loan was $150,000 or less – what has changed?

The loan forgiveness process on loans $150,000 and less has been simplified. We are now accepting PPP loan forgiveness requests on the new simplified form.

When are my PPP loan payments due?

All PPP Loan payments have been deferred until after you apply for forgiveness and receive a response from the SBA.

What’s my timeline for requesting forgiveness?


The timeline for requesting forgiveness is now 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.

 

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

What steps will I take to complete the forgiveness application?

For resources and information on the process, please review our:

PPP Client Resource Page

Back to Top