Message from Jennifer Roberts, CEO of Chase Business Banking
I’m pleased to tell you that we just started accepting applications again for Paycheck Protection Program (PPP) loans through this site from customers with Chase Business checking accounts. You should know that the SBA:
Also, we continue to watch for potential changes to the rules on PPP Forgiveness. As updates come out, we’ll keep you informed. You have plenty of time to request Forgiveness. We’ll let you know when you can start submitting Forgiveness requests.
In the meantime, here are a few things about Forgiveness to keep in mind:
- The SBA has clarified who can use the simpler 3508EZ form to request Forgiveness. Check it out.
- Forgiveness isn’t necessarily all or nothing. You may be eligible for all, some, or no Forgiveness on your loan.
- Request Forgiveness only after you have spent all the funds that are eligible for Forgiveness.
- We’ll prefill standard business information along with the following when you submit for Forgiveness through Chase online:
- SBA PPP Loan Number
- Chase PPP Loan Number
- Funded PPP Loan Amount
- PPP Loan Disbursement Date
- Payments are generally deferred until 10 months after your 8-week or 24-week Covered Period ends.
- If you apply for Forgiveness in the deferral period, you won’t have to start making payments on unforgiven amounts until the SBA provides a decision on your request or remits funds.
- If you do not apply for Forgiveness within the deferral period, you must begin making payments after your deferral period.
All of us at Chase hope you stay safe and enjoy your summer.
If you are not receiving emails from us about Forgiveness, please check your spam folder and email privacy settings.