Paycheck Protection Program - Funding Exhausted
The Small Business Administration funding for the Paycheck Protection Program has been exhausted.
Paycheck Protection Program - Loan Forgiveness
PPP Loan Forgiveness Applications for all round one and round two loans are currently being accepted in our digital platform.
We’re excited to share the progress we’ve made in supporting our PPP Loan Customers:
- 99% of round one loans have received forgiveness through our digital platform
- 69% of round two customers have completed their forgiveness application
- 64% of round two loans have received forgiveness through our digital platform
We’d like to encourage all customers to complete their forgiveness applications. To assist, we have a dedicated team standing by to help in case there are any questions when using our digital platform.
We recommend you familiarize yourself with the appropriate forgiveness application, including the necessary supporting documentation. We will not accept paper applications - our digital platform will guide borrowers through the information required and populate a personalized forgiveness application.
Resources for PPP Loan Forgiveness:
Our Most Common Loan Forgiveness Frequently Asked Questions
Full Forgiveness Application (3508 Revised January 19, 2021)
Required Documents to Submit Full Forgiveness Application
EZ Forgiveness Application (3508EZ Revised January 19, 2021)
Required Documents to Submit EZ Forgiveness Application
3508S Forgiveness Application (Revised January 19, 2021)
Please note, if your business is affiliated with other businesses, and your PPP loan total across all affiliates is greater than $2 million, you must use Form 3508EZ or Form 3508.
Since the inception of the PPP, the U.S. Treasury and the SBA have continually modified the Program guidelines. It is your obligation, as the borrower, to understand the Rules. PPP recipients must continue to follow any new PPP Interim Final Rule, as released. Given the potential liability, we advise you to consult your legal and accounting professionals.
FAQs for Lenders and Borrowers