Apply for Loan Forgiveness
Update as of 5/6/2021: To apply for PPP loan forgiveness, please read the guidance and instructions below. We are no longer accepting new PPP loan applications.
If the application is not submitted within 10 months following the last day of the loan forgiveness covered period, payments are no longer deferred and loan repayment will begin.
For example: a borrower whose covered period ends on October 30, 2020 has until August 30, 2021 to apply for forgiveness before loan repayment begins.
Questions? Please reach out to the Workers representative that helped you apply for your PPP loan.
For your convenience, we’ve compiled the following resources directly from the U.S. Department of the Treasury and will update as needed.
- Top-line Overview of First Draw PPP (1/8/2021)
- Top-line Overview of Second Draw PPP (1/8/2021)
- Guidance on Accessing Capital for Minority, Underserved, Veteran and Women-Owned Business Concerns (1/6/2021)
- Interim Final Rule on PPP as Amended by Economic Aid Act (1/6/2021)
- Interim Final Rule on Second Draw Loans (1/6/2021)
- How to Calculate Loan Amounts (6/26/2020)
- Second Draw PPP Loans – How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide (1/19/2021)
- Frequently Asked Questions – General (12/9/2020)
- Frequently Asked Questions – Forgiveness (10/13/2020)
- Interim Final Rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act (1/19/2021)
- Interim Final Rule on Loan Amount Calculation and Eligibility (3/3/2021)
- Interim Final Rule on Paycheck Protection Program as Amended by American Rescue Plan Act (3/18/2021)
To view all PPP rules, visit the: U.S. Department of the Treasury website.
PPP At a Glance
- 60% of loan proceeds must be used for payroll, 40% for other eligible expenses
- Spend period extends 8–24 weeks from either date of loan receipt OR from the first day of the next payroll cycle after loan receipt
- Forgiveness is not guaranteed