Paycheck Protection Program – Loan Forgiveness
We are currently accepting applications for the forgiveness of PPP loans made by BankCherokee. Typically, PPP borrowers have 16 months after first receiving funds before loan payments begin. Accordingly, first round PPP borrowers will be required to start making loan payments as early as August of 2021. We are recommending that first round PPP borrowers begin the forgiveness process now in order to give BankCherokee and the US Small Business Administration sufficient time to process the request. BankCherokee is using an online version of the forgiveness application. The application process begins with a series of questions to direct the applicant to the form that is appropriate for their situation. Please contact your BankCherokee loan officer to request that a PPP forgiveness application link be sent via email.
*BankCherokee is no longer accepting PPP applications. Please reach out to your banker for other programs and loan options.