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SBA Paycheck Protection Program (PPP)

PPP Portal

Please use the link above to submit applications for both forgiveness and origination of new loans.

After two full weeks processing Paycheck Protection Program (PPP) Round 2 loan applications, we have received over 600 submissions totaling in excess of $70 million in relief funds for our small business community.  To date, over 70% of these applications have been successfully submitted to the SBA for approval.  The SBA has approved and HarborOne has documented close to 400 loans to date.  Our Commercial Loan Servicing team continues to fund each approved loan within the prescribed 10-day period provided by the regulations.  Please check your account regularly for status updates on your application.

Our review team continues to work through the application queue to ensure that all borrower submissions adhere to the SBA guidelines.  When information does not appear to satisfy the requirements for submission to the SBA, we have been reaching out to clients for additional information as needed.  The PPP Round 2 process is materially different than it was for the previous round of PPP during the first half of 2020.  The platform changes made by the SBA have caused some validation errors on submissions for all financial institutions; however, we are working with our partners at the SBA to resolve these as quickly and efficiently as possible.   

Please feel free to access the HarborOne PPP Portal to check in on the status of your request.  If you have not already submitted your application, we encourage you to do so soon, as the program will only remain open until this latest allocation of PPP funds has run out. You can reach the Portal by clicking the link below:

PPP Portal

 

Remember that our Portal is also available for existing PPP clients to submit forgiveness applications for the first draw loan.  We encourage you to engage in this process soon, as borrowers will be required to begin making loan payments no later than 10 months from the end of their Covered Period.

We will continue to monitor information regarding this program and share the content with you as soon as possible.  In addition to email notifications, we will continue to update our PPP resource center, which can be found at www.harborone.com/sbappp or for additional information, please visit www.sba.gov/ppp

For any additional questions or concerns, please contact your Relationship Manager or PPP Hotline at (508) 895-1778.
 

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