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Paycheck Protection Program Summary

UPDATED July 30, 2021

Under the CARES Act (the Coronavirus Aid, Relief and Economic Security Act), the SBA offers the Paycheck Protection Program (PPP) which provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. The program was revived and updated by the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act).

Loan Forgiveness

On August 4, ESL customers who received a 2021 PPP loan, in an amount of $150,000 or less, can apply for forgiveness through an SBA online application portal.

ESL customers who received a 2021 PPP loan, in an amount over $150,000, should contact their Business Banking Relationship Manager or their Relationship Banker at their local branch for instructions and information regarding applying for forgiveness.

Please visit our PPP Forgiveness page for more information on how to apply for PPP loan forgiveness.

For the most current information on PPP loan forgiveness, please refer to:

We appreciate your understanding and patience as we all work together through these uncertain times.