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PPP Loan Forgiveness

We are pleased to inform you that the Small Business Administration (SBA) loan forgiveness* process is now live. You may now apply for forgiveness of your Paycheck Protection Program (PPP) loan. We understand how important this is to you and your business and we have worked to create an easy-to-use, online application experience. SUBMISSION DEADLINE IS MONDAY, MARCH 29, 2021.

CLICK HERE TO GET STARTED 

*If you do not apply or are not approved for forgiveness, you will be billed for the outstanding amount of the loan per your Note. 

 

UPDATE: On Tuesday, January 19th, the Small Business Administration (SBA) revised loan forgiveness forms for the Paycheck Protection Program. SBA also released an updated interim final rule on PPP forgiveness and a new conflict of interest disclosure.

Read the interim final rule. 

 

How does the application work?

  1. Complete the Online Form to request forgiveness
  2. Upload the required information and supporting detail to accompany the form
  3. After you submit the form, it will be sent to StonehamBank for verification
  4. If there is missing information or additional questions, StonhamBank will contact you via email to supply the information.
  5. After the information submitted is verified, StonehamBank will submit your information to the SBA for approval.
  6. StonehamBank will notify you through email as soon as we receive a response from the SBA regarding your forgiveness request.

The Bank recommends that you engage an independent consultant if you are unfamiliar with the SBA PPP Loan Forgiveness requirements. StonehamBank cannot act as a consultant to its customers for this process. The Bank's role in this process is to review the PPP Loan Forgiveness request and inform a borrower if there is any missing documentation per the SBA and/or submit the information to SBA for approval.

Who should I contact if I have any questions?

If you have any questions, please contact the Payroll Protection Operations Team at 781-481-5721 or via email at .

Please review the instructional videos below prior to starting the SBA PPP Loan Forgiveness process; these videos are here to assist you in starting the process.

Authentication & Application

Document Upload

eSigning

Have any questions?

 

Contact Us or Schedule an Appointment.

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