The Paycheck Protection Program (PPP) provided SBA-backed loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Borrowers may be eligible for PPP loan forgiveness.
From its introduction in April 2020, the PPP program was reauthorized and amended as needed in response to the duration of the pandemic. The resources provided here have been updated to include the most recent program forgiveness forms as of July 2021. Additional information and resources are available from both SBA.gov and Treasury.gov.
PPP borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either the 8- or 24-week period after disbursement.
You can apply for forgiveness once you have used all loan proceeds for which you are requesting forgiveness any time up to the maturity date of the loan. However, if you do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred and you will need to begin making the payments.
Please make sure you complete the entire application form, sign it, and provide all necessary documentation to your Liberty Lender. In the meantime, if you have any questions please reach out to your Lender for assistance.
Thank you for trusting us to help you and your business through these challenging times. We continue to receive guidance and updates from the SBA, and as received, we will keep you informed as well.
Please contact your lender with any questions or for any additional assistance.
Routing Number: 071108407 | Member FDIC | Equal Housing Lender | NMLS# 571147
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