Wells Fargo PPP Forgiveness Application. According to Wells Fargo, if you have received a PPP loan through Wells Fargo, you are not permitted to submit the application downloaded from the SBA site. you may ask why? Well, it is Because Wells Fargo is not participating in this program.
However, the only way to apply for Forgiveness for a PPP loan from Wells Fargo is through Wells Fargo’s Online forgiveness application.
In this article, we are going to e discussing how you can apply for this program for those who are interested.
Wells Fargo PPP Forgiveness Application
Wells Fargo & Company offers an easy-to-use mobile banking service. The company has at least five thousand (5000) branches and twice as many ATMs in the US.
You can apply for Paycheck Protection Program (PPP) Loan Forgiveness using the easy guide in this article.
After following the loan application process, you can now submit. Nevertheless, you will receive a mail containing the address of the Wells Fargo PPP Loan Forgiveness Center.
Once you Start your Online PPP Loan Forgiveness Application
- Save your application frequently, so you don’t lose the information you have entered.
- If you need to upload documents to support your application, complete and submit your application within 30 days, to avoid having to upload documents again.
- Make sure you receive an on-screen confirmation to confirm each document has been successfully uploaded, if applicable.
- Review your application, verify any documents (if applicable) have been uploaded, and confirm the amount you’re requesting before you submit your application.
PPP Loan Forgiveness Application Options
The following are application options, make sure you check on them to pick the best for you.
use this form if you are not eligible for Form 3508S, which is the one above. And also, if you meet one of the two eligibility conditions.
when You want to apply, reflect using this form if your loan is $150,000 or less. The form requires you to provide less information and may take a shorter time to process
You can use this form if you do not meet the eligibility conditions for either of the two forms above.
Once you know the right form to fill out, proceed with the application process
How to Apply for PPP Forgiveness Online
You can access the link to the forgiveness application through Wells Fargo Business Online. This online application is available for qualified customers who are ready to apply for loan forgiveness.
Once you log in, Wells Fargo business online users will see the application link in the Account summary after expanding each eligible PPP loan account. While the CEO users will see the link on the home page, after signing in.
Keep in mind that you must not use the SBA PPP Direct Forgiveness Portal because Wells Fargo is not participating in this program.
However, the only way to apply for forgiveness application is through Commercial Electronic Office® (CEO®).
Once you start your online application, you will be able to save and come back to it you prepare it.
You will wait to submit your PPP loan forgiveness application until you have collected and uploaded all your supporting documents, as applicable.
You will check your loan forgiveness application and supporting documents, then submit the complete application to the U.S. Small Business administration (SBA)
They will let you know when they receive a response from the SBA.
Wells Fargo PPP Forgiveness Application FAQs
Is Wells Fargo accepting PPP forgiveness applications?
Wells Fargo is not participating in this program. So, the only way to apply for forgiveness for a PPP loan from Wells Fargo is through Wells Fargo’s online forgiveness application in Commercial Electronic Office® (CEO®).
The Small Business Administration (SBA) PPP Direct Forgiveness Portal cannot be used for Wells Fargo PPP loan forgiveness.
IS Wells Fargo Accepting PPP loans?
Wells Fargo is accepting PPP loan applications from existing customers. in order to apply, you must have opened an eligible Wells Fargo business checking account.
How Do I Apply for PPP Loan Forgiveness?
The following tips on how you can get your PPP loan get to start:
- Use it for eligible expenses.
- Keep your employee headcount up*
- Don’t reduce an employee’s wages by more than 25%*
- Document everything.
- Talk with your lender.
- Apply for loan forgiveness.
And with these steps, you would be able to apply for the PPP Loan forgiveness. these steps above are quite easy to walk through.