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Paycheck Protection Program (PPP)
Loan Forgiveness

If you’ve received a PPP loan through Spencer Savings Bank and your loan is under $150,000, you can apply for forgiveness via the SBA’s Direct Forgiveness Portal.

You will need to create an account with the SBA separate from any others you may have, verify your identity, and complete your application. The SBA has provided a direct call center line for any borrower that needs assistance: 877-552-2692. You can always monitor the status of your application via the SBA’s Direct Forgiveness Portal.

If your loan is over $150,000, please contact your nearest branch for the proper application procedures for your loan.

You can also visit the SBA website for the most up-to-date guidance regarding forgiveness instructions here: SBA.gov

If you have any other questions, please feel free to call us at 1-800-363-8115 or visit your local Spencer Financial Center.