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: You may request an SBA Review of PNC’s Decision.
 

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.

Please note: per the SBA, only customers who have received a $0.00 forgiveness decision (denied in full) from PNC are eligible to request that the SBA review their decision at this time.

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: You may not request an SBA Review of PNC’s Decision.
 

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

No. There is no right to request a review by the SBA of PNC’s partial forgiveness decision at this time. The SBA may choose to review any PPP Forgiveness Application at their discretion at any time.

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

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.