Working Together to Keep You Informed of the PPP Forgiveness Process
As we continue reviewing Small Business Administration (SBA) Paycheck Protection Program (PPP) forgiveness applications, OnPoint and our partner, Holmes & Company have worked together to compile some of the most common questions. We understand as the SBA’s process and guidelines have continued to evolve, they also presented challenges in the early stages of the forgiveness process. We hope answers to the following questions can help support you as you complete the forgiveness application.
If you encounter a "page not found" error or are unable to log back in once you've logged out:
- Log out of OnPoint's online portal
- Close Chrome
- Re-Open Chrome
- Paste this link into Chrome: https://onpointcu.force.com
Your Password to access the OnPoint PPP forgiveness portal is the password you used to apply online for the PPP loan. It is likely not your OnPoint Digital Banking password. If you do not remember your password, click on "Forgot Password".
The Excel Loan Forgiveness Verifiers are located online at onpointcu.com/sba-ppp-forgiveness-application-2020.
Scroll to Step 3 and you will find the Loan Forgiveness Verifiers. Be sure to choose the Verifier specific to your business:
- Borrowers who do not have employees or only have employees who are owners of the business
- Borrowers who have employees that are not owners of the business
To calculate your maximum forgivable amount, divide the 2019 Schedule C, line 31 amount by 12 months and multiply the result by 2.5 months. The maximum amount allowed is $20,833.
Borrowers will need to upload a copy of their 2019 IRS Form 1040 Schedule C (see FAQ regarding instructional materials and videos if necessary).
- Download the Loan Verifier (for loans above $50,000 only). Visit onpointcu.com/sba-ppp-forgiveness-application-2020 and scroll to step 3 to find the Loan Forgiveness Verifiers.
- Complete the required Verifier and upload it into Kiteworks (for loans above $50,000 only). To upload into Kiteworks, check your inbox or spam folder for an email from [email protected] with instructions on how to upload.
- After uploading the Verifier (for loans above $50,000), you will receive an email granting you access to the loan forgiveness portal. The email authorization will be sent to the email address used for the application of the PPP loan.
- All Borrowers are required to apply for loan forgiveness through the loan forgiveness portal located at: onpointcu.force.com.
- Once in the portal, answer the questions and complete the requested information.
- When requested, upload only the required documents into the portal.
- Submit the forgiveness application.
- Your application will be reviewed and when it is approved, you will receive an electronic signature packet.
- If other information is required, you will be notified by email or telephone.