PPP Loan Forgiveness - Mascoma Bank

PPP Loan Forgiveness

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Under the Paycheck Protection Program (PPP) created by the CARES Act, loans may be forgiven if borrowers use the proceeds to maintain their payrolls and pay other specified expenses. PPP borrowers must apply for loan forgiveness with the lender that processed the loan.

If our Mascoma Bank team helped originate your PPP loan, we strongly encourage you to make yourself aware of the specific information you will need to track in order to apply for forgiveness. 

PPP Borrowers must wait at least the required minimum coverage period of 8 weeks from the time of the PPP loan disbursement to apply for forgiveness.

***Important Notice***

We have been made aware that some of our PPP customers have received emails from outside sources claiming Mascoma Bank is not providing assistance to clients with PPP loan forgiveness and are sending borrowers to the SBA website.  The emails also include attachments. This email is false as we are providing all PPP customers with assistance with loan forgiveness. 

Please use caution before opening attachments or clicking on links in emails when you are unsure of the sender. Mascoma Bank is providing information to you via email from the email address [email protected]  If you ever question the validity of our communications, you are welcome to call the bank to confirm it is legitimate. We also will not ask you for personal or specific business information via email.

Please go to the SBA’s site to see the Interim Final Rule and revised documentation.

If you have questions about the PPP program itself or your general understanding of the procedures, please contact your state SBA office.