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July 17, 2020
SBA PPP Loan Forgiveness
Virginia National Bank was pleased to have helped you receive funds from the Small Business Administration (SBA) Paycheck Protection Program (PPP). As a recipient of those funds, some or all of your PPP loan may be forgiven by the SBA.
On June 16th, the SBA provided preliminary guidance on the forgiveness part of the process. At this time, as we understand it, SBA is now developing a separate system to receive and process forgiveness requests. You will receive an email with further instructions once we have confirmation from the SBA that we are able to process your application. Virginia National Bank appreciates the opportunity to have assisted you with the PPP loan and we look forward to further assisting you through this process and keeping you informed as we learn more.