Paycheck Protection Program
PPP Resource Center
Last Updated: October 13, 2020
The SBA and U.S. Treasury have issued long-awaited guidance as it relates to the process for obtaining PPP loan forgiveness. We are working on a documentation checklist to make the process as easy as possible for PPP customers and we will e-mail that to borrowers once it is available.
Current Sections (Click Link for Quick Access):
If borrowers are ready to move forward with the forgiveness process now, the following links will take you to the forgiveness applications and their corresponding instructions. Banks will be required to verify the application is completed correctly and that the supporting documentation is provided. Please review the instructions carefully in order to simplify the process.
PPP and Potential Impact to Income Taxes (Updated 05/04/2020)
Updated PPP FAQ & Safe Harbor (Updated 05/13/2020)
Question? (Updated 05/05/2020)
While you may have heard that loan forgiveness will not be counted as taxable income, did you know that your eligible PPP expenditures will not be tax deductible? The IRS issued guidance on April 30th, which you can review fully here.
The Treasury Department and SBA published an updated FAQ. Click HERE to read more.