Paycheck Protection Program (PPP) Loan Forgiveness Information HERE.

Small Business PPP Loan Forgiveness Information Center

PPP LOAN Forgiveness Information Center

Updated November 24, 2020

The Small Business Administration (SBA) provided a COVID-19 Economic Injury Disaster Loan (EIDL) Frequently Asked Question document. Click here to download the Economic Injury Disaster Loan FAQ document.

Updated October 20, 2020

The Small Business Administration (SBA) and the Department of the Treasury has updated documents concerning the PPP Loan Program. Click the links below to read the updates to the FAQs:

PPP Loan Program Changes   SBA/Treasury Announcement

SBA PPP Loan Forgiveness FAQs      SBA PPP FAQs   

Updated June 29, 2020

As we enter the “Forgiveness” phase of the PPP program, I want to provide you with updates and insights to guide you through the process.

Marquette is committed to making this experience as easy as possible for our customers. We are in the process of creating an online portal for ALL Borrowers to easily submit the required Application documents and supporting data. However, we cannot overstate the importance of carefully reviewing the information provided by the SBA, the US Treasury and Marquette. After your review, you will need to decide which “Covered Period” option is best for you and your business. By choosing the 24-week Covered Period the probability of 100% forgiveness is more likely. Also, when making the decision, please consult with your tax accountant/preparer to understand the potential impact to you regarding your 2020 tax liability, so you can plan accordingly.

To help you better understand your options and next steps, we have provided the attached document that outlines the decisions you will need to make to fulfill your responsibility.

Next Step Guide

We understand there is much information to review and that you still may have questions that need to be answered. We will do our best to answer them. To better assist you we ask that you submit your questions to your Relationship Manager in an email. This will allow us to track them as they come in, and provide the assurance that your questions are not lost in translation. For those questions we cannot answer immediately, it will allow us to simply forward your question on to the SBA.

THANK YOU for your sincere cooperation to this process and especially for your patience as we attempt to be responsive to ALL our valued customers.

Stay safe and stay healthy!

John C. Dill
Executive Vice President Director of Business Banking

  • June 8, 2020 PPP Loan Forgiveness Update

    The Paycheck Protection Program (PPP) Flexibility Act was signed into effect adding several key revisions all businesses should be aware of. For your review, click here for a PDF of the News Release distributed by the Small Business Association (SBA) and Treasury Department on Monday, June 8, 2020.

    Marquette continues to monitor and seek information from the SBA and Treasury Departments and hopes to provide more information about such provisions included in the Flexibility Act. For example, the process by which a borrower notifies the Lender/SBA to change its election of the “covered period” to 24 weeks vs the current 8-week period initially offered.

    Additionally, another provision of the Flexibility Act calls for a maturity of 60 months, however, we are waiting on guidelines regarding the requirement, if any, for banks to extend the 24-month maturity of PPP loans closed prior to June 5th.

    Be sure to download the Flexibility Act news release for more information. We realize this “Flexibility Act” may raise some additional questions. As always, should you ever have questions or need clarification please do not hesitate to reach out to your Marquette Business Banking representative.

    Please continue to return to this page for updates.

    In an effort to be proactive, Marquette has developed the “PPP Loan Forgiveness Toolkit” to provide guidance for our customers through this next phase. On this page you will find three important tools that will help ensure your company receives the best benefit from the PPP program.

    Be sure to visit this site for periodic updates to the Q&A document, and helpful updates.

    In closing, we realize you may have many more questions…we do too but rest assured we will find the right answer for your business. We thank you in advance for working with us as we all try to navigate through this next phase of the PPP program.

    Stay safe! Stay healthy!

    Your Marquette Savings Bank Business Banking Team


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