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Small Business Loans

CARES Act & PPP

We are monitoring updates from the SBA and U.S. Department of Treasury daily for guidance on loan forgiveness and are preparing both our systems and bankers to handle the process, which we expect to start in July.
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Here to Help Your Business

We are committed to communicating all relevant information to our business customers affected by COVID-19. This includes the Small Business Administration (SBA) Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was signed by the president on March 27, 2020.
The PPP is a federal relief program established by Congress and implemented by the U.S. Treasury Department and the Small Business Administration (SBA) with rules, requirements, protocols and processes that all participating banks, including Heritage Bank, must follow.
PPP Loan Forgiveness
We are monitoring updates from the SBA and U.S. Department of Treasury daily. We also have access to industry resources specifically focused on SBA programs, including PPP. We are preparing both our systems and bankers so they can handle the forgiveness process, which we expect to start for some PPP borrowers as early as mid-June.
Just the same as our application process, the forgiveness process will involve your regular, trusted, local banker who will have access to real-time information about your forgiveness application all the way through the process. And like the application phase, we will be transparent and responsive.
We expect the forgiveness process will take longer than the original application process as it is more complex. Please see the guidance for PPP borrowers forgiveness record-keeping below for details.
We expect more information to become available about the PPP loan forgiveness process in the coming weeks.
PPP Loan Forgiveness Application Schedule A instructions (PDF)
Guidance for PPP borrowers forgiveness record keeping (PDF)
FAQ 5-6-2020 (SBA)
Interim Final Rule (SBA) (PDF)
Employee retention tax credit FAQ (IRS)
Employee retention tax credit explained (IRS)
Determination of taxability of PPP loan and related expenses (IRS)
Contact your relationship manager
PPP Loans
In order to ensure an orderly flow of these government-provided funds, we will follow the guidance of the U.S. Treasury. This includes what has been posted on their website: small businesses planning to apply should do so with their current business loan provider.
PPP loan application packet (PDF)
PPP loan funding information (PDF)
Contact your relationship manager
PPP borrower factsheet (U.S. Treasury) (PDF)
PPP FAQs (U.S. Treasury)(PDF)
PPP overview (U.S. Treasury)
Guidance for PPP borrowers forgiveness record keeping (PDF)
PPP guidance (sole proprietors and independent contractors) (PDF)
PPP loan calculator (sole proprietors and independent contractors)
 
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Additional Help

We’re here to help all our customers during this difficult time and have compiled a number of resources for both our individual and business customers.
Business resources
Consumer resources
 

Contact us

If you have questions about your financial situation, please don't hesitate to contact us.
Contact your relationship manager
Contact us
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*The CARES Act was just signed into law and there are still many unknowns and regulations that must be issued before loans under the PPP can be provided. Information on this page is not a comprehensive statement of the CARES Act and is subject to changes in the law or interpretations of the applicable laws and regulations. For more information about the CARES Act and the PPP, please visit the Small Business Administration website at www.SBA.gov.

Additional Information