Paycheck Protection Program – Loan Forgiveness Frequently Asked Questions
Q: Where do I go to apply for PPP?
A: Instructions for how to apply are on HOPE’s website at www.hopecu.org/pppforgiveness. You may email our partners at pppapp@claems.com with specific questions.
Q: Is CLA still processing applications for HOPE?
A: Yes, Clifton Larson Allen (CLA) is processing PPP Forgiveness applications for HOPE. You may contact them at pppapp@claems.com. You can learn everything you need to know and link to the online forgiveness application at www.hopcu.org/pppforgiveness. You may also contact HOPE at sbappp@hope-ec.org for more information on how to get connected with CLA to submit your application.
Q: I have a loan that is less than $150,000. Can I apply for Forgiveness now?
A: Yes, the applications are now available to all PPP loan recipients. You may start the process on HOPE’s website: www.hopecu.org/ppp. Forgiveness guidelines for loans of less than $150,000 have been updated and now follow a much more simplified process. The application process with CLA incorporates those changes to make the forgiveness process quicker and easier.
Q: Do I have to apply for Forgiveness if my PPP loan amount is less than $150,000?
A: Yes, everyone who received a PPP loan must apply for Forgiveness. The process is much easier for borrowers with loan amounts less than $150,000. You can find more instructions on our website at http://www.hopecu.org/pppforgiveness.
Q: The link in my email from CLA expired, can you resend it?
A: Yes, please email pppapp@claems.com with your business name and loan amount. They will resend the link to you.
Q: I did not get the CLA email. Can you resend it?
A: Please first check your junk or spam folder. It is usually there. If you do not see it, you may contact pppapp@claems.com to get a new email. Sent to you.
Q: Do I have to apply for Forgiveness before I can apply for a new PPP Loan?
A: No, but you must certify that you have spent all of your funds from the first PPP loan before you can receive a second PPP loan. We encourage everyone to apply for forgiveness now to prevent any issues in the future. You can do so by visiting our website at http://www.hopecu.org/pppforgiveness.
Q: How long does the PPP Forgiveness process take?
A: The process has been streamlined for loans below $150,000. The full process should take no more than one week now. For loans greater than $150,000, the process may take up to two weeks.
Q: Where do I get my SBA number?
A: CLA has a copy of your SBA number and they will add this to the application for you. You may contact them at pppapp@claems.com.
Q: I got an email from Okta. Is that the same company as CLA?
A: Yes, CLA uses a service called Okta to send their emails and verify that you have a PPP loan from HOPE. Please follow the instructions in that email.
