SBA PPP Loans

SBA PPP forgiveness portal is now available through CoVantage for business members.

SBA Paycheck Protection Program

At this time, CoVantage, a CDFI-designated financial institution, is no longer accepting applications for the SBA Paycheck Protection Program.

Previous Applicants:  Loan Forgiveness

A benefit of the SBA Paycheck Protection Program loan is that your loan may be forgiven if your funds are used for payroll costs, mortgage interest, rent, and utilities, and you have documentation that can substantiate it. At least 60% of the loan must be used for payroll costs. Forgiveness is based on your business maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

READ MORE AND APPLY FOR LOAN FORGIVENESS


Information related to the SBA PPP loan may change as updates are provided by the Federal government. Last updated 5/18/2021, 5:00pm CST.