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PPP Loan Forgiveness Application Process

Under the Paycheck Protection Program (PPP) created by the CARES Act, loans may be forgiven if borrowers use the proceeds to maintain their payrolls and pay other specified expenses.

If you and/or your organization received a loan under the SBA Paycheck Protection Program, you are entitled to apply for forgiveness of that loan in accordance with the criteria contained in the SBA program guidance.   PPP borrowers must apply for loan forgiveness with the lender that processed the loan.

As a reminder, recent legislation has provided for an extended period in which to utilize the PPP funds – up to 24 weeks from the date of funding. It has been recommended that Borrowers take advantage of the extended period to ensure full usage of the funds and time for finalization and implementation of anticipated amendments to the regulations and SBA guidance for the forgiveness process.

In order to facilitate the Forgiveness Application process for PPP loans, the Bank has partnered with our core system provider, Fiserv, to implement a secure online portal where you can enter the required information and upload supporting documentation. In addition, the Portal offers a Knowledge Center which provides answers to most of the questions that may arise regarding the program. It is important to note that the Bank will be performing all of the Forgiveness Application processing and Fiserv will not have any access to confidential Borrower information.

Click here to access the PPP Loan Forgiveness Portal.  You will need to enter the Business Name and EIN, exactly as they appear on the original application form.

Finally, all PPP Loan Forgiveness applications and required supporting documentation must be submitted through the portal and will not be accepted by any other method.

Please feel free to reach out with any questions, by emailing ppploanforgiveness@lowellfive.com, or reaching out directly to your Loan Officer.

Thank you for your attention to this matter. We look forward to working with you through the Forgiveness Application process.