Important information regarding Paycheck Protection Program loan forgiveness

After September 10, 2021 BBVA USA will no longer be accepting forgiveness applications from 2020 PPP loan holders issued by BBVA USA as we prepare to fully combine with and become PNC Bank, National Association. This transition is currently expected to occur on Friday, October 8, 2021*.

As part of this transition, there will be a period between September 10, 2021 – October 17, 2021 in which you will not be able to apply for forgiveness. If you anticipate needing to apply for forgiveness prior to October 18, 2021, please make every effort to submit your application on or before September 10, 2021.

After September 10, 2021, you will still be able to respond to requests for additional information on existing applications until the portal permanently closes on October 8, 2021.

On October 18, 2021 the transition to the PNC PPP Loan Forgiveness Application Portal will be complete.  At this time customers will be able to resume submitting forgiveness applications.

Additionally, please keep in mind that your deferral period will end 10 months and 24 weeks after you received your PPP loan. If you have not applied for forgiveness by that time, you will be required to begin making payments the first month after your deferral period ends.

If you are a 2021 PPP loan holder, please note that invitations for forgiveness will begin in the fourth quarter of 2021.

*Date Subject to Change


Accessing the PPP Loan Forgiveness Portal

If you received a PPP loan in 2020, you should have received a letter with the information you need to log in, which included your SBA loan number and BBVA loan number. You should have also received an email sent to the email address we have on file for your business.  If you did not receive this letter please contact 866-996-6240

For loans of $150,000 or less, the simpler forgiveness application path will save you valuable time and you will not be required to upload documentation. 

For loans over $150,000, the updates will provide expanded categories of forgivable payroll and non-payroll items and increased flexibility to maximize forgiveness.

Loan forgiveness can help your business succeed, our portal provides:

  • One central place to submit all required information, enter eligible payroll and non-payroll costs, and upload all required supporting forgiveness documentation
  • A Borrower Knowledge Center with access to educational materials, FAQs and search features
  • Secure messaging with experts to help you with your questions and concerns
  • An intuitive forgiveness dashboard with submission details and current status
  • Access to forgiveness calculations and process milestones
  • Convenient electronic signing of your forgiveness application

Action required to transition to simpler loan process 

Important note for customers who had already begun their forgiveness application prior to the simplified process being available in the portal: 
Action is required on your part in order to transition to the new, simpler forgiveness process and forms. After you login, please read the What's New message sent to you with the latest PPP Loan Forgiveness Guidance issued by the SBA.

Learn more about loan forgiveness


Changes in forgiveness requirements benefit your business

In January 2021, The Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venes Act was passed. The revision to the forgiveness of loans will provide businesses with greater flexibility in meeting PPP loan forgiveness requirements, such as:

  • Expands PPP allowable and forgivable expenses to include supplier costs on existing contracts and purchase orders, including the cost for perishable goods at any time, costs relating to worker protective equipment and adaptive costs, and technology operations expenditures.
  • Enhances borrower flexibility by allowing borrowers to select their loan forgiveness covered period between 8 weeks and 24 weeks.
  • Simplifies the forgiveness application process for smaller loans up to $150,000 while increasing SBA’s ability to audit and review forgiven loans.
  • Allows PPP borrowers to include additional group insurance payments when calculating their PPP payroll costs. This would cover insurance plans such as vision, dental, disability and life insurance.
  • Eliminates the requirement that EIDL advances be subtracted from PPP forgiveness.
  • Borrowers receive full loan forgiveness if they spend at least 60 percent of their PPP second draw loan on payroll costs over a time period of their choosing between 8 weeks and 24 weeks.

First Payments Coming Due in August

For customers who have not yet received a forgiveness decision, BBVA USA has extended the due date of your first payment for your Paycheck Protection Program (PPP) loan until August 2021.  Your new first payment due date will be on the same calendar day in August 2021 as the calendar day of your current due date identified on your PPP Promissory Note.  For example, if your current first payment due date is October 17, 2020, your new first payment due date will be August 17, 2021. Once the SBA has made a final determination of a borrower's PPP forgiveness application, we will communicate with any PPP borrower that has a remaining PPP loan balance regarding repayment terms.

You are not required to take any action or sign any modification agreement for this first payment due date extension.          

We extended the first payment due date of your PPP loan because the Paycheck Protection Program Flexibility Act of 2020 extended the deferral period for payment of principal and interest for all PPP borrowers.   During this additional deferral period, you are not required to pay any amount on your PPP loan.  However, you may make a payment on your PPP loan at any time. 

If you have any questions, please contact your banker or your local branch.


Completing the PPP loan forgiveness process:

Please do not submit your PPP Loan forgiveness application via the mail. All forgiveness applications must be submitted via the BBVA PPP Loan Forgiveness Application portal.

PPP Loan Forgiveness
Frequently Asked Questions*

Has BBVA made my PPP borrower data public?

On December 1, the Small Business Administration released public data about Paycheck Protection borrowers. Some of the information included names, addresses, exact loan amounts and who their PPP lenders were. The reason this information was made public was because of a court order following lawsuits brought by media organizations seeking the data.

As your bank, BBVA played no role in the court decision. Our first priority is to protect your privacy and we would never publicly disclose any of your personal data. As always, our commitment is to your business’ financial health. We appreciate your ongoing partnership with BBVA.

When can I apply for forgiveness for my PPP loan?

An eligible PPP borrower may apply for forgiveness of its PPP loan anytime on or before the maturity date of the loan, including before the end of the covered period, if the borrower has used all of the loan proceeds for which the borrower is requesting forgiveness.

How long are principal and interest payments deferred?

If an eligible PPP borrower fails to apply for forgiveness within 10 months after the last day of the covered period or if the SBA determines that the loan is not eligible for forgiveness (in whole or in part), the PPP loan is no longer deferred the PPP borrower must begin paying principal and interest.

Where can I learn more about the requirements for PPP loan forgiveness?
If I apply for forgiveness, when will my PPP loan be forgiven?

Once you submit your forgiveness request, your lender will have 60 days to issue a decision on your forgiveness application to the SBA. The SBA will then have 90 days to evaluate eligibility for loan forgiveness in accordance with PPP regulations and guidance issued by the  SBA through the date of application. The SBA may direct a lender to disapprove your forgiveness application if the SBA determines you were ineligible for the PPP loan.

I was told I need to use the funds by a certain date. Is this true?

Yes. Either within the 8-week covered period or the 24-week alternative covered period from the loan disbursement date.

Is there action I need to take to opt in to the 8-week covered period or the 24-week alternative covered period?

No specific action is needed to opt in to the chosen period. The Covered Period begins on the origination date of the covered loan, which is also the date the lender makes the first disbursement of the covered loan to the borrower. Instead of declaring an 8-week or 24-week covered period borrowers will choose a covered period end date.

PPP borrowers that obtained a PPP loan before June 5, 2020 will have the option at the time of submission of the PPP loan forgiveness application to elect a covered period of either:

(i) 8 weeks from the date the PPP loan was originated; or
(ii) 24 weeks from the date the PPP loan was originated.

For PPP borrowers that obtained a PPP loan on or after June 5, 2020, the last day of the covered period is the earlier of:

(i) 24 weeks from the date the PPP loan was originated; or
(ii) December 31, 2020.

An employee quit during the covered period. How do I account for that?

Please refer to the SBA’s 6 FTE Reduction Exceptions which include instances in which Employees voluntarily resigned. FTE reductions due to one of those 6 Exceptions will not reduce borrower’s loan forgiveness eligibility.

I have been unable to reopen my business. Is the loan dependent on reopening?

Please refer to SBA’s FTE Reduction Safe Harbor 1, which addresses businesses unable to operate during the Covered Period at the same level as before February 15, 2020, due to compliance with requirements established or guidance issued between March 1, 2020 and December 31, 2020, by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration related to the maintenance of standards for sanitation, social distancing, or any other worker or customer safety requirement related to COVID-19.

I understand there is a simplified forgiveness process for smaller loans. Is that true?

On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act was passed, and includes simplified forgiveness for PPP loans of $150,000 or less, and is now included in the forgiveness portal. 

When is the deadline to apply for forgiveness and how long will it take to receive forgiveness?

A borrower may submit a loan forgiveness application any time on or before the maturity date of the loan — including before the end of the Covered Period , if the borrower has used all of the loan proceeds for which they are requesting forgiveness. If the borrower does not apply for loan forgiveness within 10 months after the last day of the Covered Period, or if the SBA determines that the loan is not eligible for forgiveness (in whole or in part), the PPP loan is no longer deferred and the borrower must begin paying principal and interest. If this occurs, the lender must notify the borrower of the date the first payment is due. Once the application is submitted for forgiveness, the lender has 60 days to review the application and documentation submitted by the customer, and the SBA has another 90 days to review the lender’s decision.

Will the loan term be adjusted for loans submitted after the CARES Act?

All PPP loans booked June 5th and later have a 5-year term. Loans booked prior to June 5th have a 2-year term, unless the customer and lender agree to adjust the term to five years.

What are the tax implications of a receiving a PPP Loan?

Please consult with your tax advisors/CPA regarding any tax implications or visit for Notice 2020-32 for information on tax implications.


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Details you need to make a smart decision

*BBVA USA and its affiliates do not provide tax, legal or accounting advice. The information in this forgiveness portal should not be a substitute for, tax, legal or accounting advice. Borrowers should consult their own tax, legal and accounting advisors before engaging in any transaction.

BBVA USA will not pay any agent or other third party a fee or other compensation for referring an applicant or assisting an applicant in preparing an application. Interested applicants should apply only through BBVA's PPP portal and not through any third-party sites. Please note that submitting a PPP application does not guarantee funding or forgiveness of the loan by the U.S. Small Business Administration.