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HarborOne Voyage

HarborOne U Voyage for business

SBA Paycheck Protection Program Forgiveness Update

Small Business Administration record (“SBA”) announced that financial institutions of our size can begin to submit PPP applications to the SBA beginning Tuesday, January 19th. In anticipation of a large volume of applications, please refer to the content below for information on how to submit a complete application through our online portal.

PPP Portal

Helpful Tips For Successful Submission

Portal Access

Please use the link above to access the portal web page. In order to authenticate into the portal, you will need to use the following information:

  • Email address: this should be the address that is receiving this email
  • Tax ID: this would be for the applicant business
  • Checking account number: account number where the original PPP loans were deposited into

* for any login issues, please call the PPP hotline at (508) 895-1778


In order to be eligible for a second draw PPP loan, borrowers must satisfy the following criteria (in addition to any certifications presented on the application):

  • Business must have 300 or fewer employees
  • Business must show at least a 25% decrease in quarter- over- quarter gross receipts for the same time period in 2020 as 2019. (Annual reductions of 25% year-over-year are eligible as well). This documentation is critical and noncompliance could affect the forgiveness of your loan. In certain instances, we cannot submit your application without prior review by HarborOne Bank.

Payroll Records

The loan amount is calculated based on 2.5 times average monthly payroll or 3.5 times average monthly payroll for specific industries (with a NAICS code starting with 72). Depending on eligibility, the maximum loan amount is $2 million. In order for us to validate the payroll figure please keep in mind the following.

  • Borrowers must submit third- party payroll reports or bank statements showing average monthly payroll for either 2020 or 2019, at the borrower’s discretion.
  • In addition to formal payroll records, borrowers must submit quarterly payroll tax filings (form 941) for the same time period as their election to determine average monthly payroll (2020 or 2019).

Please note that if you are obtaining a second-draw loan with HarborOne and we previously reviewed your 2019 payment records for a first draw loan, you do not need to provide any additional information pertaining to payroll; however, your average monthly payroll will be determined to be the same for purposes of the second draw loan program.

Please 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 must apply for forgiveness no later than 10 months from the date of the original loan disbursement.

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. 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.

Contact us

Contact us

Contact a Small Business Team member to discuss how we may help you achieve your business goals. We are here to assist every step of the way.

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