Financial planning meeting

Paycheck Protection Program Forgiveness

 

2021 Forgiveness

Please be advised that direction for the 2021 Paycheck Protection Program (PPP) Forgiveness phase is being managed differently than what is described below for 2020 PPP Forgiveness. The Bank will be contacting clients with 2021 PPP Loans in the days ahead to provide next steps and Forgiveness direction. 

2020 Forgiveness

At Central Valley Community Bank (CVCB) we are proud to have provided over 1,000 PPP loans in 2020 to our business clients totaling over $211 million to support our clients and to help keep our communities strong. 

The Small Business Administration (SBA) Paycheck Protection Program Forgiveness Applications for 2020 PPP Loans are still being accepted through the program outlined below. We are available to assist you throughout the 2020 PPP Forgiveness phase from start to finish. Please contact SBAPayrollProtection@cvcb.com to alert our team should you not have received your official Forgiveness portal access. 

Professional Education

Professional education services provided by Moss Adams, one of the nation’s largest accounting, consulting and wealth management firms is available below through the highlighted presentations. We highly recommend that you view these presentations, as they will guide you through the preparations to streamline your PPP Forgiveness process. 

PPP Forgiveness Presentations:

Secure PPP Forgiveness Portal

Access to the online PPP Forgiveness portal is available. Please contact SBAPayrollProtection@cvcb.com to alert our team should you need assistance with the official Forgiveness portal access. This secure, streamlined portal will provide helpful notes, simple tutorials, and frequently asked questions to assist you to complete the Forgiveness Application process and reduce confusion. 

Be Prepared for Portal Access
Clients may find it helpful to review the content identified in SBA's general Forgiveness Application (which can be found here) before accessing the custom CVCB portal.  NOTE: It is not necessary or recommended to fill out this form - it is only included as a reference. Your final Forgiveness Application will be submitted exclusively through the CVCB portal. 


Frequently Asked Questions

Because of the ever-evolving circumstances regarding PPP Forgiveness, we recommend checking the SBA's webpage for Frequently Asked Questions on PPP Loan Forgiveness here.

The Paycheck Protection Program was part of The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). It was signed into law on March 27, 2020 and introduced a funding and loan program with the goal of preventing job loss and small business failure due to losses caused by the COVID-19 pandemic. SBA PPP loan forgiveness is the process by which the SBA will forgive either the balance or a portion of the loan based on the use of the funds and other qualifying factors.

Your Business Advocate

At Central Valley Community Bank, our commitment to you before, during and after this extraordinary time is to be your business advocate and partner. In fact, our professional relationship managers continued to assist not only our own PPP borrowers, but also clients and community businesses that obtained PPP financing through other lenders. We provide this level of service because of our dedication to the clients and communities we are so proud to support.