You may notice that the date your loan was forgiven by the SBA is earlier than the date on which you’re receiving this notification. This happens because after the SBA sends forgiven funds to Scratch, it can take some time for that payment to be applied to your account’s loan forgiveness. This difference in date does not affect your loan forgiveness, interest accrual, or deferment period date. All funds are backdated to the date we received them from the SBA, so your loan has not accrued any additional interest on the forgiven amount.
Articles in this section
- What qualifies as “gross receipts” for my business when I am entering amounts for my revenue reduction?
- Why can’t I submit my second forgiveness application before my first one, if my loan is over $150,000?
- What if I don't want to claim forgiveness on my first draw loan, but do want to claim forgiveness on my second draw loan?
- How can I update my mailing address?
- If I am a sole proprietor, independent contractor, or self-employed individual, can I increase my loan amount in light of the SBA's updates to loan amount calculations?
- What new categories of expenses will be eligible for forgiveness based on January 2021 SBA guidance?
- Where do I find my SBA PPP loan number / ID?
- How does the new law related to the Paycheck Protection Program (PPP) affect my loan or loan forgiveness?
- If I am selling my business or changing ownership, what steps do I need to take for my PPP loan and loan forgiveness?
- Why did I receive a Loan Necessity Questionnaire (also called SBA Form 3509 or 3510)?