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SBA PPP Loan Forgiveness

Online Forgiveness Application coming in mid-August.

Small businesses are the backbone of our community and Broadway Bank is focused on helping businesses succeed even in times of uncertainty. As a SBA Delegated Lender, our team of Small Business Administration Specialists have been available 24/7 to help our customers with the SBA Paycheck Protection Program.

Loan Forgiveness Information

We are aware that the SBA has opened their portal for loan forgiveness. Our dedicated team is diligently working with our provider on testing the online application process to ensure we have incorporated the most recent SBA changes and to deliver an outstanding experience you have come to expect from Broadway Bank.

We anticipate opening our online portal in the next 7-10 days and at that time, we will request and accept the loan forgiveness applications. Broadway Bank will continue to communicate with you via email on next steps for the loan forgiveness process. Any further delays or changes regarding our online application portal will also be sent by email.

We strongly encourage you to visit the available U.S. Treasury and SBA resources for up-to-date information as this program continues to change. The links below are provided for easy access to those resources.

Processed and funded over 2,500 loans totaling over $400 million in PPP loans for 2,500 businesses.

Average PPP loan size is $156k.

80% of PPP loans were $150,000 or less.

91% of PPP loans were $350,000 or less.

Other highlights:

  • Broadway Bank was one of the first banks to open SBA Paycheck Protection Program loans 
  • Our Bankers worked around the clock—24/7 for the first 2 weeks 
  • 80% of our staff was working on PPP loans
  • In our community we administered the second most PPP loans

*Broadway Bank is unable to provide financial, legal or tax advice. We advise that you seek financial, legal or tax advice from legal and/or tax professionals. Please visit the U.S. Treasury and U.S. Small Business Department Paycheck Protection Plan websites for guidance and rules on the SBA Paycheck Protection Program Loan Forgiveness process.

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