Important Information Regarding PPP Forgiveness Application
Letter to Clients; RE: PPP Forgiveness 6.29.2020
Dear Atlantic Capital Client,
Good News! The forgiveness process and timeframe has greater flexibility than initially outlined by the SBA. You have time to prepare and apply for forgiveness.
Atlantic Capital will be using an online application to handle Paycheck Protection Program (“PPP”) loan forgiveness and we will provide updates when we set a date to begin accepting forgiveness application requests. Upon request to your relationship manager, they will send you the forgiveness application link once you are ready to apply.
We are staying on top of communication from the SBA and the U.S. Treasury as details continue to be provided about the PPP forgiveness. The PPP Flexibility Act of 2020 (“Flexibility Act”) was signed into law on June 5 and additional guidance was released by the SBA on June 17. We understand that this has been a confusing process and we are committed to helping you navigate forgiveness. Each business is unique and every situation is different, so we encourage you to reach out to your advisors and accountants as to how specific expenses apply to forgiveness for your business.
The SBA and Treasury have released continued guidance and/or updated FAQs numerous times since the program was rolled out and we anticipate the release of additional information in the coming weeks. Visit the links below for detailed information on the forgiveness program.
In order for Atlantic Capital to appropriately staff and serve our clients best, we ask that you complete a survey to share how you are planning on preparing for forgiveness.
President and CEO
Atlantic Capital Bank