Once the Loan Forgiveness application is complete and submitted through any of the above options, you will receive an email confirmation that your application has been received. Our PPP team will review, approve, decline, or amend the Loan Forgiveness request. Processing time will be dependent on the volume of applications received. The bank has 60 days from the date the completed application is received to complete these steps.
If approved, the application and documentation will be forwarded to the Small Business Administration (SBA) for quality review and final adjudication. The amount of loan forgiveness is not final until approved by both JCB and the SBA. If approved, the SBA will transfer the forgiven funds to JCB for deposit into the borrower’s account. As of now, the SBA estimates the transferring the funds to banks within 90 days of receipt of the information.
Please note that JCB has retained ProBank, a third-party, to assist in processing these applications. Borrowers may receive emails from PPPLoanTeam@ProBank.com requesting additional information and/or clarification. To ensure emails do not end up in your Spam or Junk folder, you may want to add the domain name (probank.com) and the above email address to your “Approved Senders List” (also known as “white-listing”).