Thank you for partnering with Golden Valley Bank on your Paycheck Protection Program (PPP) loan.
You need to stay informed about the forgiveness process and requirements of your loan. We have prepared an informational document including everything we know about the forgiveness process at this time. It includes information on what costs are eligible for forgiveness, what documents should be tracked, how to maximize the amount of forgiveness you may be eligible for and how your forgiveness may be reduced due to a reduction in FTE or employee salaries. Please be aware, the final versions of the SBA guidance may differ greatly from what we think we know today.
We anticipate additional guidance and information on this topic and will pass the information along as soon as we become aware. In the meantime, we strongly encourage you to discuss the effects of the IRS notice with your tax advisor.
Please watch for additional guidance as it becomes available to ensure you have as much information as possible to maximize your loan forgiveness. If you have any questions please reach out to us for additional information.
President & CEO