Loan Forgiveness Resources
I. Application Process
Sabal Palm Bank will be using a secure online platform for borrowers to complete and submit forgiveness applications. The platform is called Sageworks, and each borrower will receive an individual email that directs them to a secure website where their loan information is pre-filled.
Borrowers will need to fill in the appropriate information (how they spent their funds), and then a completed application will be generated for them to sign and send to us.
Everything will run through Sageworks so we recommend that borrowers wait to receive their individual email before completing their forgiveness application. If borrowers send us a completed app on their own, they will still need to redo the process through Sageworks.
All borrowers with loans over $150,000 should have received an email from Sean Barth on 8/31, directing you to the forgiveness platform. All borrowers with loans under $150,000 should expect a link to the forgiveness platform the week of September 14th. Please contact Sean if you should have received a link but haven’t. Cares@spbank.com
II. Support
We know this process can be confusing and getting answers to all of your questions can be challenging. The Small Business Association has posted some Frequently Asked Questions that may assist your efforts in finding answers to general questions. Click on the link below.
SBA PPP Loan FAQs (opens in new window/tab)
For more specific questions about the PPP loan forgiveness process, we recommend that you seek help from an accountant that has experience with the PPP loan program. If you don’t have an existing accountant who specializes in this topic, we recommend any of the three accounting firms below who are well-versed in the specifics for the requirements of PPP Loan forgiveness. You can contact Sean Barth from Sabal Palm Bank at Cares@spbank.com for contact information for the firms below.
