Paycheck Protection Program
We are no longer accepting applications for the paycheck protection program. Notification of a resumption of application acceptance we will posted here on our website; however, we cannot confirm whether or how we will be able to resume taking applications, so you are strongly encouraged to immediately identify other lenders who may be participating in the Paycheck Protection Program, due to the finite amount of available SBA funds at this time. If you have questions about your application, or other materials you may have sent to us, please contact the lending officer or branch team member with whom you have been working.
If you worked with us to secure your Paycheck Protection Program (“PPP”) loan through the Small Business Administration (“SBA”), please review the following information.
Late Friday night (5/15), the SBA released the borrower application for PPP forgiveness. Please review this application so that you can begin gathering documentation to support your calculation of eligible expenses. While the release of this loan forgiveness application is an important step for the forgiveness portion of the program, we are still awaiting final guidance on the rules of forgiveness and our obligations as the lender. Once we receive final guidance on loan forgiveness from the SBA, we will provide additional details regarding how you can apply for forgiveness.
In the meantime, you are encouraged to review the above-linked SBA loan forgiveness application, and to review the overarching SBA guidance regarding PPP, all available at: https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses.
Thank you for trusting Tompkins during this critical time for your business. We wish you the best as we rebuild our communities, together.