Helping Businesses Weather COVID-19
Paycheck Protection Program (PPP) Forgiveness
One Community Bank has partnered with the SBA to provide funding for local companies through the Paycheck Protection Program during COVID-19.
PPP Loan Forgiveness
Did your business receive a Paycheck Protection Program (PPP) loan during the first draw to help you maintain your business during COVID-19? If you did receive PPP funding from One Community Bank, the SBA may forgive your loan if your business:
- Met the SBA’s employee retention criteria
- Used the funds for eligible expenses
Currently, there are no payments due on PPP loans. However, your business can request loan forgiveness immediately by submitting a loan forgiveness application to your One Community Bank commercial loan officer. Full details on the loan forgiveness process, FAQ, and information on which application your business should use are found at the SBA’s PPP website.
Your business will need to submit supporting documents with your loan forgiveness application, either by a secure email or by dropping them off at one of our community bank locations. Your commercial lender will be happy to walk you through the process and answer any of your questions.
PPP Loan Forgiveness Applications (Updated 3/05/21)
- PPP Forgiveness Application 3508EZ
- PPP Loan Forgiveness Application Form 3508S-508 (loans under $150,000)
- PPP Loan Forgiveness Application Form 3508
To start the PPP loan forgiveness process, read the SBA PPP loan forgiveness information and then reach out to us. We are here to partner with you as we continue to weather COVID-19 challenges together.