Paycheck Protection Program Loans

Forgiveness Q&A

How do I apply for forgiveness?

• If you received your PPP loan from Self-Help, you will apply for forgiveness through Self-Help's online forgiveness portal. Our PPP team will email you a link to access our portal and will provide you with guidance, including our Step-by-Step instructions (located in the Tools & Resources box on this page). Your PPP forgiveness loan officer will answer any questions and will work with you to help maximize forgiveness on your loan.
• If you did not receive your PPP loan from Self-Help, you should contact your PPP lender. You will either apply for forgiveness through your PPP lender or through SBA's Direct Forgiveness Portal. 

Should I apply for forgiveness through SBA's Direct Forgiveness Portal? 

• If you received your PPP loan from Self-Help, you will apply for forgiveness through Self-Help's online forgiveness portal, not through SBA’s Direct Forgiveness Portal. Use of Self-Help’s portal allows our dedicated PPP team to work with you prior to submitting your forgiveness request to SBA, helping you avoid mistakes that could reduce your forgiveness amount.
• If you did not receive your PPP loan from Self-Help, contact your PPP lender to determine whether they offer an online forgiveness portal and assistance, or whether you will need to apply through SBA's Direct Forgiveness Portal. You can check SBA's website at PPP lenders participating in direct forgiveness (sba.gov) to see whether your PPP lender is using SBA's Direct Forgiveness Portal.

When should I apply for forgiveness?

• You should apply for forgiveness within about 15 months from the date you received your PPP loan funds. SBA requires PPP borrowers to begin making loan payments if they do not apply for forgiveness within 10 months of the end of their Covered Period (which is just over 15 months from the date you received your PPP loan funds). If you miss your 15-month window for any reason, contact our PPP team immediately at postclosing-ppp@self-helpfcu.org.
• Self-Help has provided all of our PPP borrowers with access to our online forgiveness portal. If you received a PPP loan from Self-Help in 2020 or 2021 and have not yet applied for forgiveness, contact our PPP team immediately at postclosing-ppp@self-helpfcu.org. If you received two PPP loans, you may not apply for forgiveness of your 2nd PPP loan prior to applying for forgiveness of your 1st PPP loan.

How can I make sure my PPP loan gets forgiven?

• In general, under the current laws and guidance, your PPP loan will be eligible for forgiveness if:
  • At least 60% of PPP loan funds are used towards payroll costs and any remaining loan funds are used to pay eligible business expenses;
  • PPP loan funds are used within 24 weeks from the date received (your Covered Period); and
  • For PPP loans over $50,000, staff and wage levels are maintained (subject to exceptions).
• For more detail on the requirements for loan forgiveness, read our PPP Forgiveness FAQ and Borrower Guides by Entity/Tax Filing Type (with specific guidance for your entity type) located in the Tools & Resources box on this page.

What if I am having technical issues with Self-Help’s online forgiveness portal?

• For best results completing your forgiveness application in our online portal, use Google Chrome as your browser (some users have reported issues when using other browsers).
• Refer to the Step-by-Step Forgiveness Instructions in the Tools & Resources box on this page for other troubleshooting tips.

What if I still have questions?

PPP forgiveness is complicated! Our dedicated PPP team will work with you to help maximize forgiveness on your loan. You can also find detailed answers to common questions in the Tools & Resources box on this page.