Practice Management

From my banker as of this morning - please see attached.

I hope this timely information is of benefit to all.

Bill

------------------------------------

Good morning all,

Yesterday the Bank sent an email to Paycheck Protection Program (PPP) borrowers regarding loan forgiveness.  I am writing you today to draw your attention to that email.  The email explained a few things.  First, we are NOT yet accepting applications for loan forgiveness, but expect to start the process soon.  Second, loans less than $50,000 will be processed differently than loans that are greater than $50,000.  There is a different forgiveness application.  If your loan is less than $50k, we will contact you by email at a later date to start the digital forgiveness application.  Third, if your loan is greater than $50k,  you will receive a separate email invitation to submit your loan forgiveness application.  The invitation will come from mail@outbound.sandyspringbank.com (add this to your safe senders list).  Lastly, we expect to start sending the invitations to apply for loan forgiveness during the week of October 26^th.  As we have over 5,000 PPP borrowers, invitations will sent in waves over an 8-to-10 week period based on the loan funding date, so as to provide you the highest level of client service.

 

(Please note that the attached PDF is for reference; the actual email was personalized and had active hyperlinks.)

 

Here's what you can do now:

 

1. Add mail@outbound.sandyspringbank.com to your contacts, safe senders list, or whitelist to prevent it from being marked as spam. Please do not attempt to send a message to this address as it is not monitored.

 

1. Organize all of your documents after reviewing these links: Form 3508S (if loan is under $50K), SBA's EZ Forgiveness Application and the Full Forgiveness Application.

 

1. Complete all necessary documentation so that you are prepared to enter your calculations into the portal.

 

1. Refer to our Q&A page and to the U.S. Treasury's FAQs of October 7 and October 13 for more information.

 

Additional Notes on Forgiveness:

 

• The Bank has 60 days from receipt of a complete forgiveness application to issue a decision to SBA. SBA then has 90 days to review the loan or forgiveness application and remit the appropriate forgiveness amount to the Bank.

 

• We continue to update our website as new information and resources become available about PPP loan forgiveness and our processes; that link is www.sandyspringbank.com/sbappp.  Please note that our branches and the Client Service Center do not have additional information.

 

Good morning all,

Yesterday the Bank sent an email to Paycheck Protection Program (PPP) borrowers regarding loan forgiveness.  I am writing you today to draw your attention to that email.  The email explained a few things.  First, we are NOT yet accepting applications for loan forgiveness, but expect to start the process soon.  Second, loans less than $50,000 will be processed differently than loans that are greater than $50,000.  There is a different forgiveness application.  If your loan is less than $50k, we will contact you by email at a later date to start the digital forgiveness application.  Third, if your loan is greater than $50k,  you will receive a separate email invitation to submit your loan forgiveness application.  The invitation will come from mail@outbound.sandyspringbank.com (add this to your safe senders list).  Lastly, we expect to start sending the invitations to apply for loan forgiveness during the week of October 26^th.  As we have over 5,000 PPP borrowers, invitations will sent in waves over an 8-to-10 week period based on the loan funding date, so as to provide you the highest level of client service.

 

(Please note that the attached PDF is for reference; the actual email was personalized and had active hyperlinks.)

 

Here's what you can do now:

 

1. Add mail@outbound.sandyspringbank.com to your contacts, safe senders list, or whitelist to prevent it from being marked as spam. Please do not attempt to send a message to this address as it is not monitored.

 

1. Organize all of your documents after reviewing these links: Form 3508S (if loan is under $50K), SBA's EZ Forgiveness Application and the Full Forgiveness Application.

 

1. Complete all necessary documentation so that you are prepared to enter your calculations into the portal.

 

1. Refer to our Q&A page and to the U.S. Treasury's FAQs of October 7 and October 13 for more information.

 

Additional Notes on Forgiveness:

 

• The Bank has 60 days from receipt of a complete forgiveness application to issue a decision to SBA. SBA then has 90 days to review the loan or forgiveness application and remit the appropriate forgiveness amount to the Bank.

 

• We continue to update our website as new information and resources become available about PPP loan forgiveness and our processes; that link is www.sandyspringbank.com/sbappp.  Please note that our branches and the Client Service Center do not have additional information.

 

------------------------------
William Kisse
COO
Washington Open MRI, Inc.
Rockville, MD
bill@womri.com
(301) 424-4888
https://www.linkedin.com/in/billkisse/
------------------------------

William,

Thank you for the update.  

For some context, we submitted our PPP forgiveness application to our bank in September, which they reviewed and approved on 10/1/2020.  Our loan forgiveness application was then officially submitted and received by the SBA on 10/7/2020.  The SBA stated they have up to 90 days to respond.

------------------------------
Raul Arizpe
Desert Imaging
El Paso TX
(915) 577-0100
------------------------------

Original Message:
Sent: 10-20-2020 10:43
From: William Kisse
Subject: Update on PPP forgiveness

From my banker as of this morning - please see attached.

I hope this timely information is of benefit to all.

Bill

------------------------------------

Good morning all,

Yesterday the Bank sent an email to Paycheck Protection Program (PPP) borrowers regarding loan forgiveness.  I am writing you today to draw your attention to that email.  The email explained a few things.  First, we are NOT yet accepting applications for loan forgiveness, but expect to start the process soon.  Second, loans less than $50,000 will be processed differently than loans that are greater than $50,000.  There is a different forgiveness application.  If your loan is less than $50k, we will contact you by email at a later date to start the digital forgiveness application.  Third, if your loan is greater than $50k,  you will receive a separate email invitation to submit your loan forgiveness application.  The invitation will come from mail@outbound.sandyspringbank.com (add this to your safe senders list).  Lastly, we expect to start sending the invitations to apply for loan forgiveness during the week of October 26^th.  As we have over 5,000 PPP borrowers, invitations will sent in waves over an 8-to-10 week period based on the loan funding date, so as to provide you the highest level of client service.

 

(Please note that the attached PDF is for reference; the actual email was personalized and had active hyperlinks.)

 

Here's what you can do now:

 

1. Add mail@outbound.sandyspringbank.com to your contacts, safe senders list, or whitelist to prevent it from being marked as spam. Please do not attempt to send a message to this address as it is not monitored.

 

1. Organize all of your documents after reviewing these links: Form 3508S (if loan is under $50K), SBA's EZ Forgiveness Application and the Full Forgiveness Application.

 

1. Complete all necessary documentation so that you are prepared to enter your calculations into the portal.

 

1. Refer to our Q&A page and to the U.S. Treasury's FAQs of October 7 and October 13 for more information.

 

Additional Notes on Forgiveness:

 

• The Bank has 60 days from receipt of a complete forgiveness application to issue a decision to SBA. SBA then has 90 days to review the loan or forgiveness application and remit the appropriate forgiveness amount to the Bank.

 

• We continue to update our website as new information and resources become available about PPP loan forgiveness and our processes; that link is www.sandyspringbank.com/sbappp.  Please note that our branches and the Client Service Center do not have additional information.

 

Good morning all,

Yesterday the Bank sent an email to Paycheck Protection Program (PPP) borrowers regarding loan forgiveness.  I am writing you today to draw your attention to that email.  The email explained a few things.  First, we are NOT yet accepting applications for loan forgiveness, but expect to start the process soon.  Second, loans less than $50,000 will be processed differently than loans that are greater than $50,000.  There is a different forgiveness application.  If your loan is less than $50k, we will contact you by email at a later date to start the digital forgiveness application.  Third, if your loan is greater than $50k,  you will receive a separate email invitation to submit your loan forgiveness application.  The invitation will come from mail@outbound.sandyspringbank.com (add this to your safe senders list).  Lastly, we expect to start sending the invitations to apply for loan forgiveness during the week of October 26^th.  As we have over 5,000 PPP borrowers, invitations will sent in waves over an 8-to-10 week period based on the loan funding date, so as to provide you the highest level of client service.

 

(Please note that the attached PDF is for reference; the actual email was personalized and had active hyperlinks.)

 

Here's what you can do now:

 

1. Add mail@outbound.sandyspringbank.com to your contacts, safe senders list, or whitelist to prevent it from being marked as spam. Please do not attempt to send a message to this address as it is not monitored.

 

1. Organize all of your documents after reviewing these links: Form 3508S (if loan is under $50K), SBA's EZ Forgiveness Application and the Full Forgiveness Application.

 

1. Complete all necessary documentation so that you are prepared to enter your calculations into the portal.

 

1. Refer to our Q&A page and to the U.S. Treasury's FAQs of October 7 and October 13 for more information.

 

Additional Notes on Forgiveness:

 

• The Bank has 60 days from receipt of a complete forgiveness application to issue a decision to SBA. SBA then has 90 days to review the loan or forgiveness application and remit the appropriate forgiveness amount to the Bank.

 

• We continue to update our website as new information and resources become available about PPP loan forgiveness and our processes; that link is www.sandyspringbank.com/sbappp.  Please note that our branches and the Client Service Center do not have additional information.

 

------------------------------
William Kisse
COO
Washington Open MRI, Inc.
Rockville, MD
bill@womri.com
(301) 424-4888
https://www.linkedin.com/in/billkisse/
------------------------------