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PPP Lenders Accepting Forgiveness Applications in January 2021

Editor’s note: PPP loan forgiveness applications are now being accepted by the SBA. This list will be updated as the lenders begin opening their forgiveness applications.

The Paycheck Protection Program has been inundated with demand from small businesses across the country.

After a long process of waiting on PPP rules to be finalized, the SBA is now accepting forgiveness applications. Lenders have started to collect documents and help their borrowers prep applications to be submitted.

Here are the lenders that are accepting PPP loan forgiveness application submissions.

Last Updated | Tuesday, December 8, 11:00AM PST

Lenders accepting PPP loan forgiveness applications

*Note: These lenders are listed as a reference and do not necessarily mean an endorsement by Bench.

Lenders waiting for more information

  • Biz2Credit

  • BlueVine: You will be emailed when your online application is available.

  • Capital One

  • Celtic Bank

  • Chase

  • Enterprise Bank: Anticipated launching of forgiveness process in early October.

  • Fundbox

  • Fundera: The lender Fundera paired you up with will help you through loan forgiveness. Check your PPP loan documents to confirm which lender you were paired with.

  • Funding Circle: You will be emailed when your online application is available.

  • Independent Bank: You will be emailed or called when the portal is opened

  • Kabbage: Sign into your dashboard for forgiveness process updates

  • PNC: Emails will be sent out notifying you of when they can take your forgiveness application

  • Quickbooks Capital

  • Sunrise Bank

  • Truist: You will be emailed when your online application is available.

  • Wells Fargo: You will be emailed when your online application is available.

If I apply today, when will I get a verdict?

Your lender has up to 60 days to review your forgiveness application. You may be fully or partially approved for forgiveness, or denied altogether. Once the initial review is complete, the lender will send their decision to the SBA.

The SBA has up to 90 days to evaluate your application and may contact you directly for additional information. Once they confirm the lender’s decision or revise the amount that’s forgiven, your lender will let you know the final result of the decision.

If my lender isn’t currently open, when will they be open?

This is unfortunately unclear. Some lenders are still waiting on additional information and some are still testing their online forgiveness process for best user experience. We anticipate more lenders opening up as relief talks—and thus discussions around changes to forgiveness—have stalled.

What documents do I need for my application?

You will need documentation to prove your payroll amount (or net income, if you are self-employed). If you have a payroll provider, you should be able to download a payroll report that summarizes most of the information you’ll need. If you’re a sole proprietor, you will need to provide a completed Schedule C for 2019.

Further reading: Documents Required to Apply for PPP Loan Forgiveness

More COVID-19 resources

This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. Bench assumes no liability for actions taken in reliance upon the information contained herein.

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