SBA PPP Loan Forgiveness

We're no longer accepting new applications for the SBA Paycheck Protection Program

Since March 2020, we've helped more than 530 small businesses save 18,550 paychecks with nearly $36 million in forgivable loans through the SBA's Paycheck Protection Program. As of March 31, 2021, we're no longer accepting applications for additional funding.

If you received a PPP loan in 2020, apply for forgiveness as soon as possible. If you received your PPP loan in 2021, we will email you as soon as you can apply.

You will need your SBA loan number to apply for forgiveness. if you have trouble locating the number, email us at businesssales@ihmvcu.org

2020 PPP loan forgiveness

Have questions? Check out these helpful SBA FAQs and the rules for applying for forgiveness.

Other ways to find help

We know this is a very challenging time for all and want to do everything we can to assist. If your small business is struggling, here are a few options to help during this pandemic:

  • EIDL Emergency Advance: This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
  • SBA Express Bridge Loans: Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
  • SBA Debt Relief: The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.
  • Quad Cities Chamber: Regular updates with pertinent information for businesses and nonprofits in the Illinois and Iowa Quad Cities region.
  • Business Interruption Grants: Grants for IL businesses experiencing extreme hardship as a result of COVID-19-related closures.
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