Thank you for choosing Heritage Bank to help with your Paycheck Protection Program Loan.
As we have moved into the Forgiveness phase of the PPP program, Heritage Bank uses an online application process to complete your PPP Loan forgiveness request and submission to SBA. Unfortunately, we are unable to accept paper or email applications. Based on the amount of your loan you may be able to submit your applications now, please see below for your availability.
As a reminder, you will be able to request forgiveness up until your loan maturity date. However, to avoid having to start loan payments, you will want to apply for forgiveness within 10 months of the end of your covered period. That change was made to all PPP Loans with the Flexibility Act passed in June.
FOR ALL BORROWERS $50,000 AND UNDER
The SBA has released the 3508S form for loans $50,000 and under, this is the simplified form for your PPP Loan. You should have received an email from Heritage Bank with information on how to start your PPP Forgiveness request and a link to your application. If you did not receive an email or cannot find it, please contact James Miller at (320) 214-3940 or email@example.com.
BORROWERS $50,000 TO $150,000
There is legislation that has been introduced in both the House and Senate that includes more provisions to simplify the forgiveness process. The Paycheck Protection Program Small Business Forgiveness Act seeks to simplify forgiveness of Paycheck Protection Program (PPP) loans under $150,000 with a one-page attestation form submitted to the lender by the borrower.
We are continuing to monitor the latest guidance and will email you when you can begin your request for forgiveness. If you should have any questions or concerns about our timeline for the forgiveness process, please let us know.
BORROWERS $150,000 and over
You should have received an email in early September from Heritage Bank with information on how to start your PPP Forgiveness request and a link to your application. If you did not receive an email or cannot find it, please contact James Miller at (320) 214-3940 or firstname.lastname@example.org.
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.