Key aspects of the program:

  • Funding for loan forgiveness is fully reserved;
  • Interest on the PPP loan is also forgivable;
  • Customers have up to 10 months after their covered period ends to apply for loan forgiveness; the PPP loan will remain deferred during this time.
 
New Forgiveness Applications
The SBA has updated Forms 3508, 3508EZ, and 3508S, and will begin accepting applications on these new forms starting March 5, 2021. 
  • Please follow this link to submit a new application
 
Forgiveness for Borrowers with funds received in 2021

First Draw and Second Draw PPP Loans - We are happy to report that we are now able to accept both First and Second Draw forgiveness applications!  The bank is updating PPP loan information in the portal on a weekly basis, and will send each qualifying borrower an email with a link and instructions on how to apply.

Please note that in order to apply for forgiveness, you must have passed the required minimum 8 week Covered Period