Unfortunately, COVID-19 has significantly affected many businesses in our community. During these challenging times we are proud to have funded PPP loans totaling $16 million. Our focus is now on assisting our local businesses through the PPP Loan Forgiveness process.
Apply for PPP Loan Forgiveness:
Torrington Savings Bank’s PPP Loan Forgiveness online portal is now available to submit your application. When you are ready to apply use our online application portal to submit your forgiveness details and upload all supporting documents. If you have any questions during the process, please feel free to reach out to one of our lenders via email at email@example.com.
What Documentation do I Need to Submit my Application for Forgiveness?
- Your loan number
- Tax ID Number
- Payroll Documentation for the Forgiveness Period
- Promissory Note
- Non-Payroll Documentation
After submitting a forgiveness application, Torrington Savings Bank has up to 60 days to review and make a recommendation to the SBA on the forgiveness amount. After Torrington Savings Bank submits its recommendation to the SBA, the SBA then has up to 90 days to review and notify Torrington Savings Bank. Submit your Loan Forgiveness Application by October 1, 2021.
For additional information from the SBA and others about the special lending programs being created as a response to COVID-19,
you may want to review materials provided by these trusted sources: