Paycheck
Protection Program

All customers who received their PPP loan from BBVA may apply for forgiveness in the PNC Forgiveness Portal.

If you received an invitation from PNC, your loan forgiveness application was not fully processed prior to the conversion from BBVA to PNC. Please log in to the PNC portal to address any potential outstanding loan file concerns, and finish applying for forgiveness for your PPP loan.

The BBVA portal is no longer in use as a result of the conversion to PNC. Data from the BBVA portal will be/has been transferred over to PNC to facilitate the forgiveness application process.

A customer has the option to apply for what they have identified as the appropriate eligible forgiveness amount. PNC will notify the borrower if the amount they have applied for is greater than their supported loan amount. When this happens, the customer can make changes to the forgiveness application to address the discrepancies to help PNC potentially render a “full approval” decision to the SBA or submit it without changes and PNC will likely submit a partial approval decision to the SBA.

Your loan forgiveness application was never submitted for forgiveness on the BBVA portal. Please login to the PNC portal to finish your forgiveness application.

Once your forgiveness application is complete and PNC and the SBA make a decision, then you will be notified of the SBA's decision. Because your deferral period expired before you submitted a complete forgiveness application you must make the required monthly payments on the loan, even if you submit your forgiveness application now or in the future. These monthly payment amounts may be refunded to you at the time of SBA forgiveness (depending on your actual approved forgiveness amount).

PNC will work with you to resolve your loan file discrepancies as quickly as possible, in order to reach a final forgiveness decision. It is important we resolve these as quickly as possible. We urge you to take action immediately.

PNC will provide additional communications about when billing and your monthly payment amount will begin, if you have not reached a final forgiveness status before your deferral period expires.

No. You must apply for forgiveness through the PNC PPP Loan Forgiveness Portal to receive forgiveness on your loan. If you do not apply for forgiveness, you must start making payments when your deferral period ends.

The date that is 24 weeks plus 10 months after disbursement. If you do apply for forgiveness before this date, you will have a payment due (if your loan is not fully forgiven) the month following the month in which we receive a decision from the SBA.

You can expect your first payment to include all interest that has accrued on your unforgiven principal since you’ve received your funds plus a portion of the unforgiven principal. (For further details please refer to your PPP Promissory Note)

For example, Company A received a PPP loan with a 2 year term of $10,000 in May 2020. The term began when Company A received funding. No payments have been made and the deferral period ends in August 2021. Company A’s first payment will be due in September 2021.

The first payment will include both a portion of outstanding principal and all accrued interest. The principal amount due ($1,111.11) is based on the outstanding principal balance divided by the remaining months of the term ($10,000/9 months). The accrued interest would be $135.56, and therefore the total first payment would be $1,246.67.

Customers can apply for forgiveness any time up to the maturity date of the loan or until the loan is fully paid off. Deadlines could change based on future guidance by the SBA.

Yes. You will have the opportunity to extend your PPP loan term from 2 years to 5 years from the date of Loan Disbursement. Please note that you may pay more total interest over the life of your loan due to the extended term, however, you may always choose to pay down or pay off your loan early without prepayment fees. 

You may select this modification while applying for forgiveness. For further details or questions, please call your PNC Banker or PNC's Customer Care Center at 1-877-287-2654.

Yes. Customers must begin making monthly payments if their first invoice has been generated because they did not apply for forgiveness before their Deferral Expiration Date (which is described in their PPP Promissory Note). Customers are strongly encouraged to apply for forgiveness prior to that Deferral Expiration Date so they do not have to begin making payments.

PNC is not participating in the SBA’s forgiveness portal.  PNC’s decision not to participate in the SBA forgiveness portal will not impact the decisioning of your forgiveness application.  The SBA still requires all lenders to make a decision on forgiveness applications, even those lenders participating in the new SBA forgiveness portal

Action Customers Can Take: 

If I have applied for forgiveness and PNC denied the application in full, can I submit a request to the SBA to review PNC’s decision?

Yes. If a lender denies the customer’s PPP loan forgiveness application in full, the customer can request an SBA review of a lender’s decision.

What do I do next?

Upon receipt of PNC’s decision notice denying your application in full, you have 30 days to contact us with your request.

Please submit a request to this email address: SBAPPPFileReviewNotice@pnc.com with the following information:

• Customer Name
• SBA Loan Number
• Written statement on reason for requesting SBA Review

Action Customers Can Take:  The SBA released a procedural notice on January 27th, 2022 which allows borrowers who (i) received a partial approval decision from their Lender or (ii) were required by their Lender to apply for forgiveness in an amount less than the full amount of the PPP loan, to request, through their Lender, an SBA loan review of the lender’s partial approval decision. PNC has established a process to facilitate these requests.

If I have applied for forgiveness and PNC approves partial forgiveness, can I submit a request to the SBA to review PNC’s decision?

• In order to be eligible for this review process, an SBA forgiveness decision must have been issued. If you have not yet applied for forgiveness, please do so at your earliest convenience.
• When an SBA decision is issued, if the SBA approves loan forgiveness in an amount less than your full PPP loan amount (and has not unilaterally selected the PPP loan for review), you will receive instructions on how to request an SBA review of the lender’s partial approval decision. You will have 30 days from receipt of that notice to request an SBA review through PNC.

WHEN can I submit for a loan review request?

• If you wish to request an SBA review of PNC’s partial forgiveness decision, and have received notice from PNC advising you of the SBA’s final loan forgiveness decision, you can do so after February 28, 2022.

WHERE can I submit for a loan review request?

• You can submit your request through PNC’s PPP Loan Forgiveness portal at paycheckprotectionprogram.pnc.com within 30 days of the date on the notice provided to you from PNC, advising you of the SBA’s loan forgiveness decision.

HOW do I submit for a loan review request?

• After logging into PNC’s PPP Loan Forgiveness portal at paycheckprotectionprogram.pnc.com, you will see a link within the application timeline section that states “if you would like to request an SBA loan review, click here.” if your loan is eligible to request an SBA review of PNC’s partial decision.

Action Customers Can Take: You may (in certain circumstances) appeal to the SBA Office of Hearings and Appeals. 

In what circumstances may I submit an appeal to the SBA Office of Hearings and Appeals?

You may have the right to appeal the SBA’s forgiveness decision after the SBA has independently undertaken an official loan review and issued one of the following official written decisions:

1. was ineligible for a PPP loan;
2. was ineligible for the PPP loan amount received or used the PPP loan proceeds for unauthorized uses;
3. is ineligible for PPP loan forgiveness in the amount determined by the lender in its full or partial approval decision issued to SBA (except for the deduction of any Economic Injury Disaster Loan advance in accordance with section 1110(e)(6) of the CARES Act); and/or
4. is ineligible for PPP loan forgiveness in any amount when the lender has issued a full denial decision to SBA

Note: the decision whether to review a loan and issue one of the above decisions is at the sole discretion of the SBA.
 

What do I do next?

Please see SBA Procedural Notice 5000-20077 and Interim Final Rule on Appeals of SBA Loan Review Decisions under the PPP to understand the appeal petition process.

Submitting a request for a loan review to the SBA does not guaranty the SBA will review the decision. If the SBA does choose to review the request, PNC will be notified. A loan review by the SBA could result in a borrower being eligible for less or more than or the same amount as what PNC determined was eligible.

The SBA has not provided any timeline as to when and how long this process will take. Under the SBA’s existing process, it is not unusual for SBA reviews to take several months to complete. PNC will provide additional information regarding the timing of such reviews if and when additional clarification is received from the SBA.

Yes, the borrower must continue making their contractually obligated payments. Payments are NOT deferred during this time.

When a Lender issues a partial approval forgiveness decision to SBA, the borrower does not have a right to appeal to the SBA Office of Hearings and Appeals (OHA) unless SBA selects the loan for an SBA loan review and issues an appealable final SBA loan review decision.

The borrower will have 30 days to request the loan review, through PNC, from the date they receive notification from PNC. PNC has an additional 5 days to submit the request to the SBA via the SBA Portal. The operational process on how the borrower will submit their loan review request is still being finalized by the SBA. Once we, PNC, have received guidance on how the SBA will accept partial approval loan review requests it will be added to PNC.COM

If a borrower has begun making payments on its loan and the SBA loan review results in full forgiveness, the Lender must refund all payments made by the borrower. If the SBA loan review results in a higher forgiveness amount, but less than full forgiveness, the lender must re-amortize the PPP loan and refund any excess payments made by the borrower.

SBA may review borrower eligibility, PPP loan amounts and use of proceeds, and loan forgiveness amounts. Borrowers should be aware that if SBA undertakes a loan review at the borrower’s request, the SBA may determine that the borrower is entitled to forgiveness in an amount less than what the Lender decided (including zero if, for example, the borrower is determined to be ineligible for the PPP loan), an amount more than what the Lender decided, or the same amount as the Lender decided.