SBA PPP Forgiveness - $150,000 or less

Chain Bridge Bank, N.A. clients with Paycheck Protection Program (PPP) loans of $150,000 or less can apply for loan forgiveness using the Small Business Administration (SBA) 1-page application.

All eligible clients must use the Chain Bridge Bank N.A. online portal to fill out and submit this forgiveness application. Manual application forms will not be accepted.

The following frequently asked questions can help applicants understand what’s expected of them when they fill out their 1-page forgiveness application.

Once ready to apply through the portal, borrowers should email sbaloans@chainbridgebank.com to get started.

How do I know if I’m eligible?

The PPP borrower is eligible if:

  • The PPP loan amount is $150,000 or less;
  • No affiliates of the borrower received PPP loans of $2 million or greater;
  • Proceeds were used for eligible costs, such as payroll costs to retain employees, mortgage interest payments, rental payments, or utility bill payments;
  • Payroll costs exceed 60% of the loan amount.
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