PPP Loan Forgiveness

Paycheck Protection Program (PPP)

NOTICE: On January 19, 2021, the SBA released new rules related to PPP Forgiveness as part of the Economic Aid Act. We are currently making updates to ensure our digital portal reflects these changes and will notify Regions PPP borrowers as soon as the updates are complete. We appreciate your patience and are working to make the updated PPP Forgiveness application available as quickly as possible.

The U.S. Treasury and the SBA have continually modified the PPP guidelines since the program started. We recommend that you continue to watch for updates regarding the PPP and its guidelines, including any additional guidance that may be issued on loan forgiveness. You can find detailed information on the SBA and U.S. Treasury websites.

There are important guidelines outlined by the SBA for how you spend PPP funds and your eligibility for loan forgiveness.

  • All or some portion of the loan principal and accrued interest can be forgiven if you use the loan funds for purposes that fully meet the forgiveness requirements issued by the SBA.
  • The amount of your loan that is forgiven may be reduced if you do not completely follow the requirements.
  • The actual amount of the forgiveness will depend, in part, on your use of all of the loan funds for forgivable purposes and whether you maintain employee and compensation levels during the required periods, according to the CARES Act, the Paycheck Protection Program Flexibility Act (PPPFA), recently-enacted legislation, and SBA rules.

We recommend that borrowers carefully review the CARES Act, PPPFA, recently enacted legislation and SBA rules, and consult with their attorney, accountant or other professional advisor(s) as they consider use of funds and their particular situations.

For additional information on recent updates to forgiveness rules, please refer to the new guidance released by the SBA.

If you submitted your loan forgiveness application to us for review, we will be contacting you soon with next steps once we receive further guidance from the SBA. You can log in to check the status of your submitted loan forgiveness application through our PPP Portal.

Regions provides links to other websites merely and strictly for your convenience. The site is operated or controlled by a third party that is unaffiliated with Regions. The privacy policies and security at the linked website may differ from Regions privacy and security policies and procedures. You should consult privacy disclosures at the linked website for further information.