Paycheck Protection Program (PPP) Loan Forgiveness
Golden Bank is proud to have helped many customers secure funds through the SBA’s Paycheck Protection Program (PPP) to keep their businesses operational during these COVID-19 pandemic period. Customers may be eligible to request loan forgiveness if you received a loan through the SBA’s Paycheck Protection Program (PPP).
The SBA has provided the Paycheck Protection Program Loan Forgiveness Application, click here for SBA Form 3508 PPP Loan Forgiveness Application. Customers will need to complete this application and submit it to Golden Bank. Golden Bank will begin accepting loan forgiveness applications once the SBA has released comprehensive guidance and details for this process. We strongly recommend that you begin reviewing the application, you can also begin preparing for the application process by gathering the required documentation. Please note, the information is subject to change based on new or updated guidance from the SBA.
You will need to maintain all records relating to your PPP loan, including documentation submitted with your PPP loan application, documentation supporting your certifications as to the necessity of the loan request and your eligibility for a PPP loan, documentation necessary to support your loan forgiveness application, and documentation demonstrating your material compliance with PPP requirements. The application requires that you retain all such documentation in your files for six years after the date the loan is forgiven or repaid in full, and permit authorized representatives of SBA, including representatives of its Office of Inspector General, to access such files upon request.