The PPP Forgiveness Process

The PPP Forgiveness Process

Berkshire Bank, with our SBA lending partner, 44 Business Capital, will automate the forgiveness process for all customers who we assisted in obtaining a PPP loan.


Please Note: PPP Borrowers are not required to apply for forgiveness until the expiration of a specified 10 month window. The start date for the 10 month window will not begin until the expiration of your elected covered period (either 8 or 24 weeks from PPP loan disbursement) or October 31, 2021, whichever is earliest. The majority of our borrowers will not be in danger of exceeding the deadline to file forgiveness applications for several more months. Congress continues to negotiate additional stimulus which is expected to simplify the forgiveness process even more.  We encourage borrowers whenever possible to wait for additional legislature which may lessen the burden on you when applying for forgiveness.
As we await final legislation and guidance on the forgiveness parameters, Berkshire Bank wants our staff and borrowers to be fully educated on the process and parameters of the forgiveness aspect of the Paycheck Protection Program.  Therefore, we will use the month of June to educate and train our staff for the best customer experience possible.

Required documents may include 2nd quarter 941 payroll reports and July statements for utilities, rent and/or mortgage statements to include the pro rata share of eligible expenses for forgiveness.

Should you wish to submit your application sooner, speak to your relationship/account manager or email

PPP Forgiveness Update:
  • Please review the material on towards the bottom of the page for a library of resources in chronological order of release. From application to forgiveness.
  • The original parameters around forgiveness have been amended by the PPP Flexibility Act. We still need final guidance from SBA/Treasury based on this legislation.
  • The PPP Flexibility Act states that 60% of the loan proceeds are to be used for payroll and 40% can be used for other eligible expenses.
  • The PPP Flexibility Act elongates the period to spend the proceeds of your PPP loan from 8 weeks to 24 weeks from receipt of the loan or an alternative date that coincides with your first day of the next payroll cycle after you received the proceeds.
  • The Forgiveness Application is provided in the library below for review as you collect materials to apply. 44 Business Capital will automate the process with an online, user-friendly application with some of the information pre-populated
  • Click here to read PPP IFR Treatment Owners Forgiveness Certain Nonpayroll Costs (pdf)

Resource Library for PPP Forgiveness
The library below is pulled directly from the website with all the FAQ’s and Interim Final Rules that have been posted.  Berkshire Bank will update this page as additional guidelines are released by Treasury and SBA.

The team at Berkshire Bank appreciates the stress and anxiety that this Pandemic has caused.  Not to mention the recent social unrest which has further impacted small businesses.  While we cannot solve all the issues facing your small business, we hope to make the forgiveness phase of the Paycheck Protection Program a little easier.

Update - Click here to read SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less

Update - Click here to read the most recent news about Enhanced Transparency

Update - Click here to read PPP IFR Appeals of SBA Loan Review Decisions Under the PPP

PPP Application Documents

PPP Library of Resources

Program Rules

Interim Rules