For questions regarding Paycheck Protection Program (PPP) Loans, visit our New Round of PPP Loans page.
We recognize the events of this year have introduced a number of challenges for our local Seacoast business community - moving many of you to request a PPP loan. We want you to know our dedication to our communities is stronger than ever. We created this page to help you complete your PPP Loan Forgiveness process and answer any questions you may have. If, for any reason, you still need clarification or additional assistance, please do not hesitate to contact us or call us at 866.795.5298.
STEP 1: PREPARE
• Determine if you’re ready to begin - Once you have exhausted the proceeds of your PPP loan and can provide supporting documentation, you are ready to begin the loan forgiveness process.
• Review application types - Please review the following applications for forgiveness to help determine which type you should use:
• Gather Documentation - Once you have determined your application type, download and complete a sample application and gather the required documentation. Seacoast will not collect this application, but will assist you in submitting your formal application through the customer portal.
• Required Documents - The documentation of how you utilized the proceeds of your PPP loan is an important part of the loan forgiveness process. While the documentation requirements are subject to change, you should submit documentation to support:
- Numbers of employees on your payroll and their rates of pay
- Records of expenses including payroll, mortgage, lease and utilities payments
STEP 2: APPLY
• Contact Seacoast Bank - When you are ready to apply for PPP loan forgiveness, contact us or call us at 866.839.7401 to start the process. You will then be sent an email with customer portal instructions.
STEP 3: VALIDATION & CONFIRMATION
• Bank Validation - We will review and validate your PPP loan forgiveness application and contact you if there are any questions. We have 60 days after submission of your completed application* to action your request. Once our validation is complete, we will forward your application to the SBA. If needed, you will be contacted to discuss any anticipated balance remaining on your loan.
*An application is considered complete when all supporting documentation is received.
STEP 4: APPROVAL
• SBA Decision - The SBA has 90 days to make a decision on your loan forgiveness application. If any part of your loan is forgiven, the SBA will submit payment directly to Seacoast Bank.