As an SBA Preferred Lender, Arvest respects the vital role small businesses play in our communities. We also want to help you understand your options regarding the forgiveness phase of the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP).

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For customers who have exhausted their PPP funds from the initial round, have proper documentation (PDF) and meet certain requirements (PDF)*, an electronic process for submitting your forgiveness application is now available. Please know we will not accept paper or PDF forgiveness applications.

Additionally, for all customers, due to changes in SBA guidance, principal and interest payments for PPP loans will no longer be due seven months from the funding date. Due dates are dependent on other dates and factors. Customers who do not apply for loan forgiveness within 10 months of the end of their 24-week covered period will be required to begin making principal and interest payments.

Other Loan Forgiveness Requirements

When you apply for forgiveness, you will need to provide documentation for your eligible expenses. If you have questions about eligible expenses, please visit the SBA website* for a complete list.

We want to help make this process as seamless as possible. If you have questions, please call (800) 772-3603 or schedule an appointment for a banker to reach out to you by phone.

Update for Economic Injury Disaster Loan (EIDL) Recipients

Based on changes enacted by the Economic Aid Act on Dec. 27, the SBA will no longer deduct EIDL advances from forgiveness payments remitted to Arvest. This change is effective for forgiveness applications with an SBA-confirmed payment status dated Dec. 20 or later.

For PPP loans where the SBA remitted a forgiveness payment to Arvest that was reduced by an EIDL advance, the SBA will automatically remit a reconciliation payment to Arvest for the previously deducted EIDL Advance amount, plus interest through the remittance date. Arvest will notify these borrowers of the reconciliation payment and is also responsible for re-amortizing the loan and notifying borrowers of the amount of the next payment due, or advising the borrower that the loan has been paid in full, whichever is applicable.

If the amount remitted by the SBA to Arvest exceeds the remaining principal balance of the PPP loan (because the borrower made a payment on the loan), Arvest will remit the excess amount, including accrued interest paid by the borrower, to the borrower.

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*A third-party site not operated by Arvest Bank, an FDIC-insured institution. Arvest Bank’s privacy policy and security practices do not apply to the site you are about to enter. Please review the third party’s privacy and security practices.