Paycheck Protection Program (PPP) Resources

We will continue to accept PPP loan forgiveness applications.
Round 3 PPP cycle has closed as of 05/04/2021. Loans which have been approved by SBA as of this date will be processed. Please contact our PPP Resource Center for information on your particular loan request.

TO APPLY FOR ROUND 1, 2 or 3 Forgiveness, Apply for PPP Forgiveness

For questions, please contact us at 860-889-7381.

CHANGES TO FORGIVENESS IN THE “CONSOLIDATED APPROPRIATIONS ACT, 2021” (STILL BEING IMPLEMENTED BY SBA/DEPT OF THE TREASURY):

Existing and future PPP loans under $150,000 will have a simplified forgiveness process similar to the current under $50k 3508s streamlined process[RE1] .
EIDL advances will no longer be subtracted from the forgiveness of the PPP loan. If you had already received forgiveness and had the EIDL advance subtracted, this obligation will be extinguished. We are awaiting SBA guidance on the process of extinguishing these obligations. If you were/are affected by this, we will be contacting you individually when we have more information.
A borrower can now elect their own covered period and does not have to choose between 8 and 24 weeks.
The Bill appears to clarify the following tax implications of PPP:
1. The forgiven debt is not taxable.
2. If you had an existing SBA loan upon which the SBA made payments on your behalf, those payments are not taxable.
3. All expenses covered by the loan proceeds are tax-deductible.
(Borrowers should consult with their Tax Advisor for details)