Farmers National Bank would like to take the opportunity to provide you with an update regarding the forgiveness application process and extend our appreciation for your continued patience. We are finalizing the online portal for application submission and anticipated initial portal invitations being sent to borrower as early as next week.
However, we received notification from the U.S. Small Business Administration (SBA) late yesterday afternoon recommending that banks delay acceptance of the forgiveness application at this time. The SBA is still finalizing the method by which banks will submit the forgiveness applications to them for final approval. It is imperative that the mechanism for banks to submit the forgiveness application to the SBA be established prior to accepting borrower forgiveness applications as regulations set forth a specific time frame whereby banks must complete the review of the forgiveness applications.
We continue to monitor the application process closely and stand poised to begin accepting and processing forgiveness applications as soon as the SBA deems it appropriate. Please stay tuned for additional information on the forgiveness application phase of the program.
Warm Regards,
Robert A. Vernick
Senior Vice President
Chief Lending & Bus. Dev. Officer
NMLS# 977437
The Farmers National Bank of Emlenton
612 Main Street
Emlenton, PA 16373
p: 844.882.6436
c: 724.991.9047
f: 724.867.9326
