The SBA Paycheck Protection Program loan forgiveness stage allows eligible expenses that were incurred during the covered period of your loan to be forgiven before your repayment period begins.
We want to keep you updated on your SBA Paycheck Protection Program loan and the forgiveness stage. We look forward to assisting you and your business throughout this process.
The SBA continues to provide loan forgiveness details to GECU. After your loan becomes eligible for forgiveness, we will send an email to the address on file with a link to the loan forgiveness application and instructions on how to apply.
A GECU representative will be available to help you throughout the process. We will only accept your application online through the link that we send you. Please do not email us .PDF versions of the application.
Click here to view the most recent SBA loan forgiveness FAQs.
Click here to view FAQs for the SBA Paycheck Protection Program.
We will continue to provide updates on the SBA Paycheck Protection Program loan and the forgiveness stage as they become available.
START GETTING READY
Prior to starting your application, it is important to start gathering all of the documents that you will likely need for the loan forgiveness application, including …
- Payroll expense reports
- 941 Forms for eligible covered periods
- Proof of payments for utility bills, rent, and/or mortgage interest
We recommend that you scan all of your documents and save them in .PDF format so that they can upload easily and make the application process even faster.
Congress is currently considering legislation that may improve forgiveness requirements for borrowers. We continue to closely monitor any development that may affect the details or timing of the forgiveness application.
1Forgiveness requirements, timeframes and covered expenses are accurate as of August 14, 2020, and are subject to change pending regulatory publication by the U.S. Treasury and Small Business Administration.