PAYCHECK PROTECTION UPDATE - PPP application deadline is May 21, 2021
Savings Bank of Danbury is accepting applications for the Paycheck Protection Program (PPP) through Friday May 21, 2021. If you have an existing application in progress with us or are planning to submit one, please be certain that you have submitted your completed application with all information required by or before May 21. We unfortunately cannot accept any applications after that date, to allow us the necessary time to process and submit the applications to the SBA which closes their portal on May 31. Please note that we will only accept applications through the PPP portal on our website.
Savings Bank of Danbury will accept PPP Applications for businesses in the State of CT and the adjoining New York counties of Westchester, Putnam and Duchess. If you have any questions regarding the PPP application process, please don’t hesitate to contact us.
You can familiarize yourself with the new requirements and forms by visiting our resource page below.
Click Here to visit our PPP Resource Page: https://www.web.abrigo.com/savings-bank-danbury-ppp-origination
Click Here to Apply: https://www.sageworksanalyst.com/loanapplication/start.aspx?customersid=30302
Please Note – if you are an existing PPP Borrower, please use the same User ID and Password that you created for your first loan. If you do not know it, please contact the Community Development Manager who assisted in your loan process or email us at email@example.com. This will allow you to import all of the information you provided for the original loan and will help expedite your process.
For more information and details, including the comprehensive program rules, please visit www.sba.gov or www.treasury.gov. If you have any questions in the meantime, please don’t hesitate to contact us at 203-830-4391 or email firstname.lastname@example.org.
Customer Information on how to Apply for SBA PPP Forgiveness
Savings Bank of Danbury is proud to have assisted hundreds of companies and to have helped preserve thousands of jobs through our participation in the SBA PPP Program. Small Business Customers who have been funded for a Savings Bank of Danbury PPP loan should begin gathering the required documentation and information in order to complete the SBA’s PPP Loan Forgiveness Application.
It is important to note that loan forgiveness is not automatically granted by the SBA. The request for loan forgiveness must be made through Savings Bank of Danbury.
PPP Forgiveness Resource Page:
- We have created a dedicated resource page that includes instructional videos, FAQ’s, checklists, and other important information that will help guide you through the Forgiveness process. We encourage you to visit this site, to familiarize yourself with the Forgiveness requirements and process. You should also consult with your accountant during this process. CLICK HERE to access the PPP Forgiveness Resource Page.
How should I request loan forgiveness for my PPP loan?
When your loan enters the eligible forgiveness period (minimum 8-week mark from the initial disbursement of funds), you will receive an email from a Savings Bank of Danbury representative with a link to our online PPP Forgiveness Application. This secure link will allow you to complete the PPP Loan Forgiveness Application and upload all required documents. We are not able to accept PPP Forgiveness Applications outside of the platform within the secure link.
The Application will require that you certify and provide the required documentation indicating that you used the loan funds for the allowable expenses.
Forgiveness Applications will be reviewed by Savings Bank of Danbury; the Bank will forward the applications to the SBA, who will decide on the loan forgiveness amount.
Savings Bank of Danbury will let you know as soon as the SBA decides on your forgiveness amount.
If you have any questions, please email PPPQuestions@sbdanbury.com or call 203-830-4391. Thank you.