COVID-19 SBA Loan Resources

Paycheck Protection Program (PPP) Loan applications are no longer being accepted.

PPP Forgiveness Information and Applications

SBA PPP Direct Forgiveness Portal

The US Small Business Administration has made available an online portal to streamline forgiveness processing for PPP Borrowers. The Direct Forgiveness Portal allows PPP borrowers whose loans are $150,000 or less to
apply for forgiveness directly to the SBA by submitting a simple pre-filled application. After registration, you may use this streamlined process to automatically submit your forgiveness request to Evolve.

Click here to access the portal. Use MS Edge or Google Chrome browsers for an optimal experience.

The SBA also offers live customer service to borrowers at 877.552.2692.

Forgiveness Requirements, Terms and Applications

Funds are provided in the form of loans that can be fully forgiven when employee and compensation levels are maintained and when loan proceeds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 60% of the forgiven amount must have been used for payroll).

First Draw Forgiveness Terms

First Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:

  • Employee and compensation levels are maintained
  • The loan proceeds are spent on payroll costs and other eligible expenses; and
  • At least 60% of the proceeds are spent on payroll costs

Second Draw Forgiveness Terms

Second Draw PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:

  • Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan
  • The loan proceeds are spent on payroll costs and other eligible expenses
SUBMIT FORGIVENESS APPLICATIONS TO: SBACovidHelp@getevolved.com
For more information: Visit the SBA’s website
contact us: 833.954.1547

SBA COVID-19 Relief

Please do not send sensitive personal information, financial or otherwise, through an unsecured forum.

Contact Us

833.954.1547

Evolve Bank & Trust

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