Currently, we are only accepting SBA PPP loan forgiveness applications for PPP loans that were funded in 2020
- If you are a 2020 PPP borrower and have not received an email invitation to apply for forgiveness via our application portal, then please contact us at HVCUSBAforgiveness@hvcu.org.
- If you are a 2021 PPP borrower, please check back for updates.
Applications must be submitted through our SBA PPP Loan Forgiveness portal. We are not accepting paper applications.
Learn more about forgiveness at SBA.gov
First Draw PPP Loan Forgiveness Terms
First Draw PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:
- Employee and compensation levels are maintained
- The loan proceeds are spent on payroll costs and other eligible expenses; and
- At least 60 percent of the proceeds are spent on payroll costs
Forgiveness Forms and Instructions