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Updates

PPP Forgiveness Application Information

If you received funding under the Paycheck Protection Program (PPP), you have been patiently awaiting the guidance pertaining to the forgiveness phase of your loan. As of Friday, May 15, the U.S. Small Business Administration (SBA), in consultation with the U.S. Department of the Treasury, released the PPP loan forgiveness application and instructions.

Our team received the application and instructions at the same time it was released to the public, and we are currently conducting a thorough review and interpreting the language to the best of our ability. It was announced by the SBA that further guidance and clarification is still scheduled to be released, and we are anxiously awaiting that information.   

At this time, the only guidance available to Bank staff is the exact information released to the public as written by the US Treasury and SBA. WE STRONGLY ENCOURAGE YOU TO REVIEW THE APPLICATION AND READ THE INSTRUCTIONS IN ITS ENTIRETY. Our PPP team can be reached at ppp@commencementbank.com and we will do our very best to help answer any questions you have.  Please continue to watch your email for further updates as they become available. The application for forgiveness is attached via the link below.   

https://www.sba.gov/document/sba-form--paycheck-protection-program-loan-forgiveness-application

For more information regarding this program, please visit:

U.S. Department of the Treasury

Small Business Administration 

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