Borrowers have ten (10) months after the end of their covered period (an 8-24 period of your choice) to complete and submit the application for forgiveness. Borrowers who have received a PPP loan through Prestamos and that are now ready to apply for forgiveness should request an invitation to the Sparks forgiveness application by sending a written request to email@example.com
Demand for forgiveness is high, Prestamos will offer individual assistance on a priority basis. To ensure your place in line, is it important to first watch the video below to help walk you through the process and answer many of your questions. It will allow us to maximize our time in helping you and help other business owners as well, thank you.
Once the forgiveness module has been activated, you will complete the entire application online through a series of questions and sections where you can upload documentation. All borrowers will select an 8-week to 24-week covered period. Borrowers can submit forgiveness applications once they have expended all the funds; as long as it has been a minimum of 8-weeks from the date of deposit. The online module will track your progress and automatically calculate what percentage of your PPP loan is forgivable based on the answers you provide during the process.
You are able to save your application and complete it at a later date if you do not have all of the documents available when you start the forgiveness process. Once you officially submit your forgiveness application to Prestamos, we have 60-days to make a determination on your forgiveness and submit your application to The SBA for final approval. You can track each step of the process through the online portal in the forgiveness module on demand.