If you have any questions about the application process, please contact your banker for assistance.
Need technical support? Contact Cyrene Wilke via email or call (920) 686-5679 or Karl Spaay via email or call (920) 686-5676 - OR click here to schedule an online appointment for PPP forgiveness application technical support.
Yes, as long as (1) the amount of loan forgiveness requested for rent or lease payments to a related party is no more than the amount of mortgage interest owed on the property during the Covered Period that is attributable to the space being rented by the business, and (2) the lease and the mortgage were entered into prior to February 15, 2020. Any ownership in common between the business and the property owner is a related party for these purposes. The borrower must provide its lender with mortgage interest documentation to substantiate these payments. While rent or lease payments to a related party may be eligible for forgiveness, mortgage interest payments to a related party are not eligible for forgiveness. PPP loans are intended to help businesses cover certain nonpayroll obligations that are owed to third parties, not payments to a business’s owner that occur because of how the business is structured. This will maintain equitable treatment between a business owner that holds property in a separate entity and one that holds the property in the same entity as its business operations.
ICB PPP Loan Forgiveness Webinar Reference Materials
- ICB PPP Loan Forgiveness Application Update Webinar Video (June 25, 2020)
- ICB PPP Loan Forgiveness Application Update Webinar PowerPoint Presentation (June 25, 2020)
- ICB PPP Loan Forgiveness Application Webinar Participant Q & A (June 25, 2020)
- An Important Update on the Paycheck Protection Program Flexibility Act - Debt Forgiveness Application Process Update
The resources listed below were accurate prior to June 4, when the PPP flexibility act was passed by Congress and should be used for informational purposes only. The act changed a good portion of the original PPP loan forgiveness guidelines, please use the buttons at the top of this page to access the most current information and to apply for forgiveness.
- SBA Paycheck Protection Program General FAQ's (Updated August 11, 2020)
- ICBA.org Article: New Legislation Looks to Address PPP Restrictions (June 5, 2020)
- Forbes.com Article: Congress Agrees On Favorable Changes To PPP Loans - What Does It Mean For Borrowers? (June 4, 2020)
- Investors Community Bank PPP Loan Forgiveness Checklist (June 3, 2020)
- Interim Final Rule on PPP Loan Forgiveness (May 22, 2020)
- ICB PPP Loan Forgiveness Webinar Q & A Responses (May 21, 2020)
- ICB PPP Loan Forgiveness Webinar PowerPoint Presentation (May 21, 2020)
- ICB PPP Loan Forgiveness Webinar Video (May 21, 2020)
- PPP Loan Forgiveness Sample Application
- PPP Loan Forgiveness Application Instructions
- PPP Loan Forgiveness Sample Application Form EZ
- PPP Loan Forgiveness Application Form EZ Instructions
- ICB Business Blog: COVID-19 - Resources for Businesses
- ICB Business Blog: Current Information on United States SBA Loan Programs
- ICB Business Blog: COVID-19 - How we are Helping Our Customers
- ICB Business Blog: Welcome to My Office - Tips for Working Remotely
- ICB Business Blog: Protect Your Business from COVID-19 Fraud
- ICB Business Blog: 7 Things to Do for Your Business During COVID Downtime
- ICB Business Blog: How to Ensure Your PPP Loan is Forgiven
- ICB Business Blog: Cash Flow Management Tips to Remember During a Crisis
- ICB Business Blog: PPP: A Reminder of Why the Program was Created and the Good it is Doing