Applying for forgiveness: What you need to know

Trust Standard is pleased to announce that we are now accepting applications for PPP forgiveness of first and second draw loans.  

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PRO TIP BEFORE YOU APPLY: A common issue at the beginning of the application process is incomplete documentation. Before you apply for forgiveness, review the Forgiveness Borrower’s Checklist. It will help you understand requirements based on which application your business used and how the PPP funds were spent. Incomplete or missing documentation will cause your application to be delayed and extend the time required to complete the forgiveness of your PPP loan. 

*As of 08/09/21, details are subject to change based on additional guidance from the SBA.

PPP Loan Application Status Update

The SBA has announced funding for the 2021 program has been depleted for most lenders. As a result, we are no longer accepting new PPP origination applications or processing origination applications that have not already been approved by the SBA. If you have specific questions about your pending application, please contact your banker or your nearest financial center.

As of 5/5/21