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PPP Loan Forgiveness

PPP Loan Forgiveness

We are aware that Congress is currently discussing proposals that might make it easier for many of you to request Forgiveness for your Paycheck Protection Program loan. We are monitoring these discussions for you.

Our plan is to start accepting online requests near the end of August, so we can offer you a better customer experience and streamlined process. We are confident you will have plenty of time to request Forgiveness.

Click Here to see the steps of how Forgiveness will work for PPP loans processed through Heritage Bank. It is your obligation, as the borrower, to understand the SBA’s rules.

Before beginning the forgiveness process, please carefully review the information provided by the Small Business Administration (SBA), the US Treasury:

When we are ready to open up our forgiveness process you will receive an email from our Credit Services Team with a direct link to your application.

Once you submit your application, Heritage Bank has 60 days to review it; you will hear from us during that time if we have any questions. We will then submit your application to the SBA, which has 90 days to review and respond to Heritage. We will contact you as soon as we have a forgiveness decision from the SBA.

Thanks again for choosing Heritage Bank as your trusted advisor for your Paycheck Protection Program loan.  We appreciate your business and look forward to ensuring an efficient forgiveness process.

For additional resources visit the SBA website.

The PPP was created by the CARES Act to provide forgivable loans to eligible small businesses to keep American workers on the payroll during the COVID-19 pandemic.

 

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