Paycheck Protection Program

PPP Loans

Last Updated: July 20, 2021

The Small Business Administration (SBA) funding for the Paycheck Protection Program (PPP) has been exhausted. As a result, we are no longer accepting new PPP Applications.

We appreciate your relationship during these difficult times. Through the Paycheck Protection Program, we were able to offer more than 119,000 loans to small businesses, totaling over $17.3 billion for our customers.

Although the Paycheck Protection Program is no longer accepting applications, we do offer other Business Lending products.

Additionally, if you are concerned about making Small Business Loan or Credit Card payments due to COVID-19, we have a variety of programs available to assist you. Please visit our COVID-19 Resource Center for more information. Please visit the SBA website for additional resources.

PPP Loan Forgiveness

We have updated our PPP loan forgiveness application portal to reflect SBA guidance and have resumed sending invitations to apply for PPP loan forgiveness to borrowers with loans funded in 2020. You will receive an email invitation from PNC once we are ready for you to apply for forgiveness under the terms provided for in the new guidance.

We are in the process of sending forgiveness invitations to customers with First Draw PPP loans that were funded in 2020. We understand your desire to begin the PPP loan forgiveness process and appreciate your patience.

If you have already applied for PPP loan forgiveness, we will contact you if additional information is required based on SBA guidance.

We are always working to make enhancements to the Forgiveness Portal. When filling out your forgiveness application, please note:

  • If you already started or submitted an application, all of the information and uploaded documents you already provided are still saved in the portal.
  • When you log back into your application, the previously submitted information as well as any new questions now required under SBA guidance will be visible.
  • Some Application Steps on the dashboard page might not be applicable to you.
  • Please confirm that you have answered all required questions before signing and submitting, or resubmitting, your application.

Please note that if you don’t apply for forgiveness, your deferral period will end 10 months and 24 weeks after you received your PPP loan and you will be required to begin making payments the first month after your deferral period ends.

If you apply for forgiveness before the end of your deferral period, your deferral period will continue until PNC receives your forgiveness payment from the SBA or a decision is made that your PPP loan will not be forgiven. You will be required to begin making payments the first month after your deferral period ends.


SBA Procedural Notice that Impacts Certain Borrowers Who Received a PPP Loan in 2020

SBA guidance prohibits borrowers from receiving forgiveness on any amount of the PPP loan that exceeds the “supported maximum loan amount” as calculated under current statutes, regulation and guidance.

If you received a PPP loan in 2020:

  • PNC will be unable to approve requests for forgiveness for any amount that exceeds the supported maximum loan amount. Borrowers are required to repay any unforgiven portion of a PPP loan under the terms of the PPP loan agreement.
  • PNC is completing a review of all existing PPP loans. If we have contacted you regarding needed documentation for your initial PPP loan, we ask that you continue to work with us to provide these. If not, we may be reaching out in the future to discuss your loan and request certain additional documentation.

Prepare Your Documentation

For additional information, please review the list of helpful documents provided by PNC to prepare for your application

Download the PPP Forgiveness Application Document Checklist »

Frequently Asked Questions

We continue to evaluate our Frequently Asked Questions to align with SBA guidance. Questions and answers are subject to change.

PPP Loan Forgiveness

Application & Documentation

Borrower Process & Eligibility

Lender Process

Qualified Expenses

Important Legal Disclosures & Information

This information is based on currently available information and is subject to change. We are committed to keeping you informed as we receive additional guidance.

PNC will not pay agents for assistance they may provide an applicant in obtaining a PPP loan or submitting a claim for forgiveness.

Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.