COVID-19: Paycheck Protection Program
PPP Forgiveness – Latest Updates
If you’ve received funding through the Paycheck Protection Program, you will have the opportunity to begin applying for forgiveness soon.
For business clients who received PPP funding from the SBA through Bank of Albuquerque, we look forward to supporting you as you begin the loan forgiveness process.
We want to make sure you have all the information needed to navigate the forgiveness phase of the program.
- Review this checklist to ensure you have all of the necessary documents
- Review the naming conventions
- Review these helpful tips before you begin your application
- Review the slides covered in the Understanding PPP Forgiveness webinar
- Watch our helpful series of video modules compiled to guide you through the loan forgiveness process, to include the following topics:
- Qualifying for Form 3508 EZ
- Selecting a “covered period”
- Calculating payroll and non-payroll expenses
- Exceptions and safe harbors for employee and wage reductions
- Navigating the forgiveness forms
To help make sure important emails reach your inbox, please add our unmonitored sending addresses, email@example.com and firstname.lastname@example.org, to your email address book. Please be sure to periodically check your spam or junk folder for messages from us, as we cannot control the spam filtering policies of email service providers.
For additional information regarding the forgiveness of PPP loans visit: www.sba.gov