The SBA has opened its portal as of Monday, August 10th to accept forgiveness applications for the Paycheck Protection Program (PPP). Borrowers have 10 months from the end of their covered period to apply for forgiveness. Reach out to your lender to determine their timing of accepting your application and a listing of supporting documents needed. We recommend borrows begin gathering their documents and information for PPP forgiveness now as banks have 60 days to make a determination, and then the SBA has 90 days to respond.
For information on the PPP forgiveness process, forms and required documents, please visit Pacific West Bank PPP Forgiveness Process page. Pacific West Bank, an Oregon headquartered bank in the Portland Metro area, was proud to help our community. CEO, Terry Peterson, recently was quoted “Banking with a local bank really matters when it matters most. We helped over 300 local businesses and nonprofits through the PPP program. We touched the lives of more than 5,500 local families with payroll assistance”. Read more in the Portland Business Journal about Pacific West Banks PPP loan outreach here. If your business is ready to work with a truly local banking partner, please contact us today!
We are proud to have Pacific West Bank as a client. If you are a client and have HR or benefit compliance news to share please contact Jennifer Bugley, email@example.com.