Paycheck Protection Program

PPP Loans

Last Updated: May 5, 2021

The Small Business Administration (SBA) informed trade associations that Paycheck Protection Program (PPP) funding has been exhausted and the SBA PPP application portal has stopped accepting applications for loans from most lenders, including PNC. PNC learned that the program was shutting down late on May 4, 2021, which is earlier than the program expiration of May 31, 2021.

As a result, we are not able to accept new PPP applications or finalize PPP applications that have not been registered by the SBA.

While PNC can no longer accept new applications or finalize existing applications that have not been registered with the SBA, PPP funds may still be available for loans from designated Community Development Financial Institutions (CDFIs), Minority Deposit Institutions (MDIs), Community Development Corporations and certain microlenders. Please visit or use the links below for lists of eligible CDFIs and MDIs.





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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’ve made some updates to our forgiveness process to address changes needed to align with SBA guidance and have begun accepting some applications in our forgiveness portal. Borrowers will notice several changes. 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 haven’t applied for forgiveness, payments are not due until 10 months after the end of your applicable covered period, as described in your PPP promissory note.

Once you apply for forgiveness, payments on any unforgiven portion of your loan will be due in the first month after the SBA remits a forgiveness payment to PNC. If you do not apply for forgiveness, your first payment will be due in the first month after your deferral period ends. It is important to note that:

  • Payments will not start until 10 months after the end of your elected covered period. 
  • If you have already received forgiveness, you will be reimbursed for any EIDL advances that were deducted from their forgiveness payment, as per SBA guidance.


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.