PPP Forgiveness Update

If you hear from the bank that they are not yet ready to process PPP loan forgiveness, it appears to be accurate. It looks like nobody has received PPP loan forgiveness yet:

We were told the same thing!

We used a local bank for our PPP loan (after our national bank took forever to get back to us!), and we submitted our forgiveness documentation last week.

Our bank is not processing any PPP Loan forgiveness yet as they are waiting on Congress to decide on those loan amounts that would receive “automatic” grant status. They did not want to hire additional staffing if they did not need to as the majority of the loans processed are under the 150K floated forgiveness amount.