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  COVID-19 Updates including PPP Second Draw Loan Application FAQs: Learn more.

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Paycheck Protection Program Updates

The Cybersecurity and Infrastructure Security Agency (CISA) is tracking an unknown malicious cyber actor who is spoofing the Small Business Administration (SBA) COVID-19 loan relief webpage via phishing emails. Learn more.

We've enjoyed being part of the PPP process so far, and look forward to inviting our PPP customers into the next round of applications. We will share more information here as it becomes available from the SBA.

To check on the status of your existing application, please contact your banker or call us at 800.711.2265.

As you start to think about qualifications for forgiveness of your Paycheck Protection Program loan, here are a few reminders and SBA FAQ's that may be helpful. While you can review the Paycheck Protection Program Forgiveness Application Form 3508, the Paycheck Protection Program Loan Forgiveness Form 3508s and the EZ Loan Forgiveness application, we are following the SBA's ongoing guidance and will contact you directly when it's time to apply. 

In addition, the Paycheck Protection Program Flexibility Act has been signed into law, which results in several important changes to your loan, including the following:

Covered Period

  • The "covered period" used to calculate the loan amount eligible for forgiveness has been extended from 8 weeks to up to 24 weeks after the origination of your loan.
  • If you received your PPP loan before June 5, you may elect to use the original eight-week covered period.

Date to Rehire Full-Time Equivalent Employees (FTEs) 

  • The Paycheck Protection Program Flexibility Act (PPPFA) extended the date to rehire FTEs and restore salaries from June 30, 2020 to December 31, 2020.
  • The PPPFA provides relief if you have had a loss of FTEs because of certain COVID-19 related restrictions that prevent your business from fully reopening

Expense Eligibility 

  • More of the loan proceeds (now up to 40%) can be used for eligible non-payroll expenses and still be considered for forgiveness.
  • Even if you do not meet the 60% mark for payroll expenses, you are still eligible for partial forgiveness.
  • What qualifies as an eligible expense has not changed.

Other than continuing to track expenses you used your loan toward, there is nothing you need to do at this time. We are creating an online application to simplify the forgiveness process for you and will update this page when it becomes available. Feel free to also review our Paycheck Protection Program Supporting Documentation resource and Paycheck Protection Program FAQs

Note on EIDL:

If applicable, the SBA will deduct any EIDL advance amount you have received from your forgiveness amount remitted to First Commonwealth Bank, as required by section 1110(e)(6) of the CARES Act. Learn more.

As we await details and final passage of the second round stimulus package, we will provide updates regarding the Paycheck Protection Program as soon as they become available. 


Since March, we've experienced a global challenge that has required all of us to take care of ourselves, each other and our community in new ways. Nowhere has that been more evident than by rapidly building infrastructure to process and fund Paycheck Protection Program applications for local businesses.

Our employees were relentless in helping our customers, as hundreds of them volunteered overnight and weekend hours, allowing us to process every one of the more than 5,000 applications we received. This means nearly $600 million in funding and upwards of 80,000 of our neighbors' jobs protected. And because our average small business loan amount was $66,000, this allowed us to help strengthen so many of the businesses that make our communities great places to live and work.

But this has never been about us. 

This is about customers like Bill and Fahad, who continue to develop and manufacture life-saving medical devices in the ongoing fight against COVID-19. Or Duane and Kate who have found new ways to open their venue virtually. 

We've shared more stories of our customers so you can be inspired by the tenacity of business owners, who were relentless in fighting for what they are most passionate about - their employees.

It's our privilege to support local businesses. Thank you for allowing us to work alongside of you. We're here for you now and will continue to be.

Jane Grebenc
President, First Commonwealth Bank