Paycheck Protection Program
We are no longer accepting applications for the paycheck protection program. Notification of a resumption of application acceptance will be posted here; however, we cannot confirm whether or how we will be able to resume taking applications, so you are strongly encouraged to immediately identify other lenders who may be participating in the Paycheck Protection Program, due to the finite amount of available SBA funds at this time. If you have questions about your application, or other materials you may have sent to us, please contact the lending officer or branch team member with whom you have been working.
If you worked with us to secure your Paycheck Protection Program (“PPP”) loan through the Small Business Administration (“SBA”), please review the following information.
On July 23rd, the Small Business Administration (“SBA”) issued additional guidance on the Paycheck Protection Program (“PPP”) forgiveness process. The guidance included information on a new system to be used for submitting forgiveness applications to the SBA for processing. The SBA announced that they will begin accepting forgiveness submissions on Monday, August 10th.
We are working with our vendor to complete integration components to the SBA’s new system. Our goal and expectation is that we will be ready to begin accepting and processing forgiveness applications the week of August 10th.
As we have communicated previously, we will be utilizing an online portal through which customers can complete their forgiveness application and submit supporting documentation. You will need you Employer Identification Number (“EIN”), SBA Loan Number and the email address at which you received you PPP Loan Documentation for the E-Sign process.
We also expect to hold an informational webinar for customers to review the process and answer any questions you may have. Please watch for details on the date and time for this webinar. If you are unable to attend the webinar, we will be recording it and making it available on our web site. We are in the process of finalizing our application procedure. Please continue to gather and organize your supporting documentation, and we will provide more information about process details as soon as possible.
Thank you for your trust in Tompkins. We look forward to assisting you with applying for forgiveness on your PPP loan.
In the meantime, you are encouraged to review the above-linked SBA loan forgiveness application, and to review the overarching SBA guidance regarding PPP, all available at: https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses.
Thank you for trusting Tompkins during this critical time for your business. We wish you the best as we rebuild our communities, together.