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July 6, 2021 – Our lending team has been busy preparing and processing PPP Forgiveness Applications over the past few weeks and has made tremendous progress.

If you currently have an outstanding PPP loan, you do not need to do anything until you are contacted by someone from our lending staff.  Our team has been busy preparing these forgiveness applications for our customers so often times the only thing a customer needs to do is sign and date the application.  While this makes it easy and convenient for our customers, it does take some time on the bank side to prepare these applications.  If you have not heard from us yet regarding signing your forgiveness application, you will in the next few weeks.

If you would like to begin your forgiveness application on your own, please reference our last post here, which will walk you through which form to use and tips on completing the application.

As a reminder, please make sure you have proof that PPP funds were used as payroll or other eligible costs.  Often times, this means writing yourself a check within 24 weeks of receiving the loan.  If your loan is audited, we will be required to send in bank statements to prove this transfer was made.  Failure to do so may jeopardize your eligibility for forgiveness.

When you are ready to apply for forgiveness, please send the application and supporting documentation to sba@decorahbank.com or drop it off with a Customer Support Representative at the Bank.

 

 

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