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Gulf Coast Bank

SBA Paycheck Protection Program

PPP Loan Forgiveness

 
Gulf Coast Bank is now accepting applications for Paycheck Protection Program (PPP) loan forgiveness. Our team has been trained and is ready to accept your application and assist you, the borrower, in the process.

How to Apply: In order to apply for loan forgiveness, you will need to complete a forgiveness application. To make this process as easy as possible, we have an online portal for you to upload all necessary documentation.

When to Apply: When you are ready to apply for forgiveness, contact the Bank and we will send you a secure link to the portal to complete your application. You will be prompted to set up a PIN to access the site. Be certain to record your PIN as you will need it to continue to access and complete the forgiveness application.
 
Loans under $150,000: Congress has not yet approved any streamlined forgiveness for loans under $150,000. While this has been proposed, Congress has not approved this action. 

Timeline: Our SBA specialists are working diligently to process forgiveness applications as quickly as possible. After our review, we will submit your file to the SBA. The SBA then has 90 days to review your application.

This has been a stressful time for everyone, and it has been especially hard on small businesses. We appreciate you choosing us for your PPP loan. The Gulf Coast Bank team has worked long hours and put our skills and expertise regarding SBA programs to use helping those affected in our community.
 
By the time the SBA PPP loan program closed on August 8th, Gulf Coast Bank assisted 1,422 businesses secure over $132,017,000 in funding. We take pride in being able to support our community in this way. 

The SBA has issued forms and instructions for the forgiveness application. For your reference, here are the current applications:  
 
Do not fill out and submit these forms to the Bank. We are including these forms here to help you understand the calculations, as well as gather the information that you need to apply for forgiveness.
 

Gulf Coast Bank has been funding SBA loans for over forty years and is a Preferred SBA Lender.
 
If you have any questions, please contact us at 337-893-7733 or sbaloans@gcbank.com. You may also utilize our Contact Us online form by clicking the button below.  
 
We appreciate this opportunity to serve you and your business and look forward to working together for years to come.

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