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.
Q: 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.