Salisbury Bank’s Paycheck Protection Program (PPP) Forgiveness Process
The program is now closed and only PPP forgiveness applications are being processed.
We have started the process of reaching out to our customers who received PPP loans in 2021 to begin their forgiveness application. The forgiveness process is completely digital and customers are being emailed in the order in which their loan was received. Please note that your forgiveness representative may differ from the individual who assisted with your original application.
The Economic Aid Act included changes to the forgiveness process, which resulted in a simplified forgiveness application for PPP loans less than $150,000.
All of our customers who received a PPP loan in 2020 have been emailed by a representative to begin their forgiveness application. Please contact us if you need the email resent.
After we have completed our review of your forgiveness application and supporting documentation we will send your application to the SBA. The SBA then has 90 days to perform their review before a final forgiveness decision is made.
The SBA and Treasury continue to update the rules of the program. It is recommended that you visit the Treasury website to review the additional guidance. Please keep in mind that it is your responsibility to determine your eligibility.
There are additional programs available to business owners impacted by COVID-19, these programs are not facilitated through Salisbury Bank or other financial institutions/Banks.