Paycheck Protection Program (PPP)
The PPP Program has exhausted all available funds and the SBA is no longer accepting applications for new PPP loans. To apply for PPP loan forgiveness, please review the information below and click the orange button 'Apply Online Now' to begin the process. If you need assistance with your application, have questions about a recent billing statement you received, or have any other PPP-related questions, please contact your relationship banker or one of our banking centers.
Important information to know before applying for PPP Loan Forgiveness:
- Ask your CPA about the "Employee Retention Credit" (ERC) - Prior to submitting your application for Loan Forgiveness for your 2021 PPP loan, you should consider speaking with your CPA regarding the Employee Retention Credit (ERC) since there is some interplay between the ERC and the PPP loan forgiveness program. If you qualified for a second draw PPP loan, there is a higher possibility that your business would qualify for an ERC credit. Level One Bank is not qualified to provide tax advice for such a credit, so that is why we are suggesting you consult with a CPA.
- Company Profit and Loss Statement Signature Required for PPP Loan Forgiveness Application - Please be advised that all PPP Loans originated in 2021 are required to sign and date the first page of the company profit and loss (P&L) statement when submitting a PPP Loan Forgiveness application. Further, all other subsequent pages on the P&L statement must be initialed.
Apply for PPP Loan Forgiveness
We are accepting forgiveness applications via our online portal. Click the button below to access the portal.
Video tutorials for submitting your application:
Download Forgiveness Forms