PPP Loan Forgiveness
PPP Loan Forgiveness The PPP Loan Deferment (Loan Forgiveness) ends November 13, 2022. To avoid entering the repayment cycle, you can apply for loan forgiveness through the portal link below. Payments will remain deferred if a forgiveness application is submitted prior to your first payment due date and will remain deferred until a decision on the application is rendered.
By now, all PPP borrowers should have received their email invitation to the Forgiveness portal. If you do not remember your password, please choose the “forgot password” option and follow the prompts to reset your password. Password requirements can be found in the FAQ section below.
Action Required: Start your forgiveness application to avoid payments
- Click the link below to access the forgiveness portal
- Select the loan you would like forgiven
- The application will populate with any prior data input and documentation
- Verify the data and uploaded required documents
- For loan amounts of $150,000 or less submitting a forgiveness application, you must upload your documentation providing proof of revenue reduction in order to qualify for forgiveness
- Submit your application
The Paycheck Protection Program (PPP) Loan Forgiveness Applications must be completed online by the Authorized Signor on the original PPP loan application.
The updated applications which will reflect the new forgiveness criteria and process required to submit to the SBA is now available. If you had previously started a forgiveness application, all of the prior information and documentation you previously uploaded will be available for you to validate.
Click here for a PPP Forgiveness Application Support Document for the Customer Portal.
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Below is the information that will be required to be submitted with the forgiveness Application.
The Paycheck Protection Program (PPP) Loan Forgiveness Applications must be completed online by the Authorized Signor on the original PPP loan application.
Borrowers will receive a unique invitation to the PPP Loan Forgiveness Portal when a minimum of 8 weeks has passed from loan disbursement.
- the PPP Schedule A Worksheet;
- the (optional) PPP Borrower Demographic Information Form.
**As additional guidance may be received from the Small Business Administration, CNB may find it necessary to modify our process and document requirements accordingly.**
Please note: The Forgiveness Application process may take up to 150 days from the date of a complete, submitted application to CNB as noted below.
You will be notified by email at each of the following stages of the Forgiveness Application process:
- When the Forgiveness Amount has been determined by CNB and submitted to the SBA (up to 60 days from the receipt of the completed application)
- When the SBA has made its final decision and remits payment on the Loan Forgiveness amount (up to 90 days from the date CNB submits the determined Forgiveness Amount to the SBA)
