Paycheck Protection Program (PPP) Deadline Extended to May 31, 2021:
It’s Important for Small Businesses to Take Immediate Action in Submitting a PPP Loan Application
On March 30, 2021, President Biden signed into law legislation that extends the deadline to submit an application for the Paycheck Protection Program (PPP) from March 31 to May 31, 2021.
While Liberty Bank remains 100% committed to helping the small business community navigate the PPP process every step of the way, we strongly encourage small businesses submitting an application through Liberty Bank to take immediate action so we can increase your chances for success in securing a PPP loan.
- As of Thursday, April 1, 2021 at 8 a.m., eligible businesses are invited to submit their completed PPP applications.
- If you have already started a PPP application, please continue to work on your application that is already in process by logging in to our portal and choosing VIEW/EDIT APPLICATION.
- If your application is in a WITHDRAWN status, then you are required to begin a new application which you should begin right away.
PLEASE NOTE: Despite the extension, time is of the essence as only applications submitted to the SBA by the end of day on May 31, 2021 will be processed. You need to upload your completed application through the Liberty Bank PPP portal as soon as possible so we have ample time to review, process and submit your application to the SBA.
As the PPP program continues to be a very fluid process with frequently changing federal guidance, rest assured that we will communicate any updates or decisions with you as necessary.
If you have secured a loan from Liberty Bank for your business through the Paycheck Protection Program (PPP), we stand ready to assist you in the next phase of the PPP program: the loan forgiveness process. We strongly encourage you to apply for forgiveness at your earliest convenience as monthly payments may soon be required for unforgiven or partially forgiven PPP loans. Our team will share information with you about the PPP program and how to have your loan forgiven. We will be sharing information through emails, frequently asked questions, and webinars.
Frequently Asked Questions (.pdf)
PPP Payroll Summary Workbook (Download .xlsx)
We also encourage you to speak with your tax professional regarding specific guidance when it comes to your PPP loan forgiveness.