Message from Jennifer Roberts, CEO of Chase Business Banking
Now that the deadline for Paycheck Protection Program loan applications has been extended until August 8, we plan to begin accepting applications again soon from Chase Business checking account customers.
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.
Resources to help you prepare in our current environment
Access to previous webinars
How to Market Digitally During COVID-19 and the Next Decade: Insights from Shama Hyder, CEO; Zen Media
Additional updates, Chase business services and helpful links.
- Learn more about Paycheck Protection Program Forgiveness. Click Here
- We are experiencing extremely high call volumes. So, we urge you to sign in to Chase Business Online for your everyday banking needs.
- To protect yourself from scams, please know that we won’t ask for confidential information—such as your name, password, PIN or other account information—if we reach out to you. See the Federal Trade Commission’s advice.
- Please check your branch before you go
Chase Business Services
- Visit our fraud protection services to enroll
- Enroll in alerts to monitor account activity
- Mobile Banking & online banking to manage your account from virtually anywhere.
- Are you a Commercial Bank Client?
- Visit our personal banking COVID page
- Keep card readers and point-of-sale equipment clean and disinfected. Visit our payments support center for instructions
- Quick deposit limits have been raised
- Accepting alternate payment methods in todays environment. Learn More
All loans are subject to other requirements and availability of funds under the SBA program. Funds are limited.
JPMorgan Chase Bank, N.A. Member FDIC. Equal Opportunity Lender
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