Important information regarding the Paycheck Protection Program (PPP) Flexibility Act
Below are some important things you need to know when requesting Paycheck Protection Program loan forgiveness under the CARES Act. The recently enacted Paycheck Protection Program Flexibility Act has modified some of the original requirements, with a goal of making it easier for small businesses to qualify for forgiveness in the wake of coronavirus-related restrictions and guidelines that have delayed reopening for many businesses.
PPP loans are eligible for full or partial forgiveness if the loan proceeds are used in accordance with forgiveness rules and guidelines, which have already been modified several times. Get all the latest updates regarding the Paycheck Protection Program Flexibility Act in our FAQ or contact your banker any time for assistance.
Update as of 9/15/20
We appreciate that you came to Quad City Bank & Trust for your business needs during COVID-19. We also understand that forgiveness of the Paycheck Protection Program loan is important to you. The Small Business Administration (SBA) has provided guidance on the forgiveness of these loans and started accepting applications for forgiveness. The Quad City Bank & Trust Online Forgiveness Portal is now accessible. We are monitoring Congress to see if there are any legislative updates that will make the process easier for you.
Please take time to prepare your supporting documentation and review the rules. Information on forgiveness can be found on the U.S. Treasury website or the SBA website. We will be sending clients a personalized e-mail with login instructions and helpful tips.
We are confident that you will have plenty of time to request forgiveness. We appreciate your patience and understanding as we navigate this program together. Continue to watch your email for additional updates and instructions. If you have any questions or concerns please contact your lender directly.
Loan Forgiveness Portal - Apply Now
(for best results we recommend accessing with Google Chrome or Firefox)
- Loan Forgiveness Portal Access
- Loan Forgiveness FAQ (July)
- Department of Treasury CARES Act
- SBA Payment Protection Program
Example Forms (PDF)
Note: We are not accepting paper forms. These are examples to show what documents will be needed to complete the online forgiveness application.