CARES Act

Exchange Bank provided nearly 2,900 loans totaling more than $383.5 million through the SBA Paycheck Protection Program

We encourage all PPP customers who received their loans in 2020 to begin the forgiveness process now. If you received your PPP loan through us, your forgiveness application must also be processed through us. Most applications up to $150,000 take just a few minutes to complete and submit.

Once your application is processed by Exchange Bank, it can take an additional 90 days for the SBA to process and forgive your loan. It is therefore important to provide yourself with enough time to have the application fully-processed and forgiven before the beginning of the billing period. Unforgiven loans will begin to receive bills 10 months following the end of the 24-week covered period.

Forgiveness Timeline Example: If you received your loan proceeds on 5/11/20, your covered period ended on 10/26/20 (24 weeks after disbursement) and you will need to apply for forgiveness by 8/26/21 (10 months after covered period end date) in order to avoid being billed for any unforgiven amounts.

We are committed to supporting to working closely with you to process your forgiveness application. Please see the following instructions to access your loan in our online portal.

Exchange Bank Forgiveness Portal Registration Instructions

Your loan number is located on Page 1 of your loan Note document

Please take note of these special points about Portal Users:

• Multiple individuals can create their own individual portal login for the same company, and share access to the forgiveness application.
• One individual can access forgiveness applications for multiple loans. Follow the steps below for each loan and be sure to use the same email and password every time. You will then be able to toggle between different loans.

Step 1: Click on the link to access the Exchange Bank Forgiveness Portal

Step 2: Enter the Company Tax ID number or Social Security number (Sole Proprietors) into the EIN or SSN box.

Step 3: Enter the SBA Loan Number (with no dashes) into the SBA Loan Number box. You can find the loan number on page 1 of your loan Note document.

Step 4: Click on “Find Your Loan” and verify it by selecting the correct loan amount.

Step 5: Complete your login by entering an email address and password. (Note, if you are accessing multiple loans, you should use the same email and password.)

“If you have any issues with your login, please contact our Customer Care Center at 707.524.3000 or 800.995.4066.”

The U.S. Treasury and Small Business Administration (SBA) are responsible for the rules of the program which determine the amount of loan forgiveness you may receive. This can include full, partial or no forgiveness. We encourage you to visit the SBA website for the most up-to-date Paycheck Protection Program Loan Details and Forgiveness rules and guidance.

We highly recommend that you review these appropriate documents before starting the forgiveness process in the portal.

• Borrower Training Video #1: Forgiveness Portal Borrower Training
• Borrower Training Video #2: Exchange Bank and Wolf Webinar
• Webinar Presentation Materials: PowerPoint Presentation
• SBA Loan Forgiveness Application and Instructions
  PPP Loan Forgiveness Application Instructions
• SBA Loan Forgiveness Form EZ and Instructions
  PPP Loan Forgiveness Application Form EZ Instructions
   (if applicable to your situation)
• SBA Loan Forgiveness Form S and Instructions
  PPP Loan Forgiveness Application Form Instructions
  (if applicable to your situation)
• SBA FAQs: Frequently Asked Questions (FAQs) on PPP Loan Forgiveness
• Best Practices for completing Forgiveness Application: Best Practices List
• Cybersecurity and Infrastructure Security Agency (CISA): Malicious Cyber Actor Spoofing COVID-19 Loan Relief Webpage via Phishing Emails