The Paycheck Protection Program for business recovery

The Federal Government's Coronavirus Aid, Relief, and Economic Security (CARES) Act is an emergency relief program created to help businesses recover.

Body (Limited)

The Small Business Administration’s (SBA) application deadline for the Paycheck Protection Program (PPP) Loans expired at 11:59pm, August 8, 2020. Webster is no longer accepting PPP applications. You may have heard that Congress is discussing new legislation. If legislation is passed and signed into law, we stand ready to resume accepting new PPP applications.

PPP loan forgiveness

Body (Limited)

Thank you for choosing Webster for your Small Business Administration (SBA) Paycheck Protection Program (PPP) Loan. You’re likely considering the next step of applying for loan forgiveness from the SBA.

There are certain requirements for loan forgiveness such as using the loan proceeds for eligible costs incurred or paid during the Covered Period. As a reminder, the Paycheck Protection Program Flexibility Act provides additional flexibility within the forgiveness component of the Act, including lengthening the covered period from 8 to 24 weeks.

Once you’ve reviewed the latest guidance from the US Department of Treasury and the SBA, confirmed you are ready to apply, and determined which Forgiveness Application Form to use, simply:

  1. Download and complete the SBA Loan Forgiveness Application Form 3508, Form 3508EZ, or Form 3508S
  2. Gather all required supporting documentation
  3. Complete Webster’s digital application, upload your Form and supporting documentation

    It is extremely important that the Forgiveness Application is complete, including all supporting documentation. We cannot accept an incomplete application to review for forgiveness. According to the law, Webster has sixty (60) days from receipt of a complete Forgiveness Application to render a forgiveness decision to the Borrower and the SBA. The SBA will have up to ninety (90) days to remit the appropriate forgiveness amount to Webster.*

We’ll send you a confirmation email and follow up if we have any further questions or need more information.

We encourage you to review the ‘Frequently Asked Questions’ below before applying.

* Webster will not be able to review your Forgiveness Application if the SBA is reviewing your Loan or Loan Application. Webster is required to notify you if the SBA is undertaking such a review.

Have everything you need?

Get started

Frequently Asked Questions

Disclaimer

* Payroll costs are capped at $100,000 per employee.

All loans and lines are subject to credit approval.