East Cambridge Savings Bank is now accepting SBA PPP loan forgiveness applications via an online portal. You can access this application by clicking on the button below.
To begin, you will need:
- Your business Employer Identification Number (EIN) or your Social Security Number (SSN)
- The PPP loan amount; and
- The SBA Loan Number
(The PPP loan amount and SBA loan number can be found on the executed SBA PPP Note)
The online portal will walk you through the application process and allow you to upload all required documentation. If you are not ready to submit the application, you also have the option to save progress and return to the application at any time.
Once you submit a complete application with supporting documentation, the Bank will review the application and submit a decision to the SBA within 60 days. Please note that we are only accepting online applications. If you have any questions about the status of your application, please contact your Loan Officer.
Borrowers are responsible for ensuring accurate completion of the SBA PPP Loan Forgiveness Application and calculation of the loan forgiveness amount. The Bank will rely on borrower’s representations and perform a good-faith review of the calculations and supporting documents concerning amounts eligible for forgiveness. The Bank may only provide limited support with respect to the completion of the SBA PPP Loan Forgiveness Application. If you need additional help, you should consult an accounting and/or tax professional. You are also encouraged to visit the US Treasury website and the SBA’s website for additional guidance and more up-to-date information. If you obtained a PPP loan prior to June 5, 2020 and would like to apply for an extension of maturity beyond two years, please submit such requests to your loan officer after a forgiveness amount has been approved by the SBA.