PPP Loan Forgiveness Process Webinar.

(Tap to watch)

This Just In...

  • August 4, 2020: We are starting the forgiveness process. As we await word on possible legislation that would provide a "blanket forgiveness" for loans under $150,000, we are starting to process small batches of loans over $150,000. This site will update as we learn more about the legislation being debated in Congress currently.

    If you have questions about the SBA PPP Forgiveness process, please check our Frequently Asked Questions section. We will update this regularly
  • July 30, 2020: The process of obtaining SBA PPP forgiveness will change if the Continuing Small Business Recovery and Paycheck Protection Program Act introduced in Congress becomes law. We anticipate a decision shortly and will communicate as new information becomes available.
  • June 17, 2020: NEW INTERUM RULES FROM SBA:
  • The SBA, on , issued (yet another) interim final rule for the SBA PPP program. This is great news for the self employed as it virtually ensures full forgiveness for self-employed, freelancers and independent contractors according to Forbes.com. Read the Article
  • Here is a link to the unpublished rule. Read the Rule
  • And, here is a link that explain the rule in more understandable English. Read the Article
  • The Bank will have an ONLINE Application (even the EZ form) so please wait until you get an email from us to start your PPP forgiveness paperwork!

SBA PPP Loan Forgiveness

Frequently Asked Questions:

Contact the Bank and request a new PPP Forgiveness Link be sent to you.
Contact the Bank and request them to forward you the PPP Forgiveness Link
Click on Forgot my PIN on the login screen, this will allow you to re-set your PIN
Yes, eventually you will need to sign. Your bookkeeper or employee will enter your name and email on the PPP Forgiveness application as "Authorized Representative of Borrower" section located at bottom of application.
If you have used the funds or the covered period of 8 or 24 weeks has passed, you are ready to begin the SBA PPP Loan Forgiveness Process.

Timeline

10Aug

Martha's Vineyard Bank PPP Forgiveness Application live

24Weeks

Loan Origination Date (SBA Acceptance) +24 weeks use of funds

31Dec

Deadline to file for forgiveness

What you will need:

(Subject to change)

Preview online PPP Forgiveness Application

You will receive an email with a unique web address. Clicking on the link will take you to a page to enter a PIN number.

If a bookkeeper or office manager is filling out the form, you will need the PIN to sign.

PPP - Protected Request Example
PPP - Form Example
PPP - Form Example
Download Sample Worksheet

Coming Soon

We will guide you through the process.

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