We are monitoring information posted by the SBA as it relates to the PPP loan advances and the approval process for the debt forgiveness.
The SBA has not informed banks of the reporting mechanism for the information requested with the loan forgiveness application. We have continued to receive details, however it is not final. The House passed legislation that will significantly improve and simplify the process. The Senate has yet to vote on the proposal.
When the process has been finalized, we will request the application when that process is defined. The forgiveness application will be communicated in the same manner and to the same individual who requested the original PPP loan application. We will continue to monitor and update this site as we receive additional guidance from the SBA.