Paycheck Protection Program
It’s time to apply for forgiveness
Don’t miss out on the full benefits of your Paycheck Protection Program (PPP) loan. If fully forgiven, you’ll owe $0. Forgiveness is open now for all first and second PPP loans, so apply today and avoid worrying about it later. To apply for forgiveness for your second draw loan, you must have completed the forgiveness process for your first draw loan. Read our FAQs for information on applying for forgiveness.
SBA no longer accepting PPP applications
Thank you for your interest in the SBA Paycheck Protection Program through Synovus. The funding for the program has been exhausted, and the SBA is no longer accepting applications. We know how critical this opportunity for emergency funds has been to our customers as you face the impact of COVID-19, and we’re thankful we’ve had the opportunity to participate. If there is anything we can do apart from the SBA Paycheck Protection Program to assist with your financial needs, please contact your relationship manager or call us at 1-888-SYNOVUS.
Important disclosure information
Your application to participate in the SBA Paycheck Protection Program, including any second draw loans, is subject to review of information and documents the SBA or we may require you to provide. Loan approval is not guaranteed. Synovus will not pay fees to or otherwise compensate anyone acting as an agent of the applicant for advising on or assisting in the preparation of the Paycheck Protection Program application or otherwise.
Synovus will process your application for loan forgiveness as the originating lender for your PPP loan based on the guidance and parameters established by the SBA, which may be subject to change. The SBA, and not Synovus, sets the criteria for loan forgiveness, including the eligibility criteria and the parameters that determine how much of your loan may be forgiven. The SBA may instruct us to hold your loan forgiveness application if it decides to conduct a review of your application, or it may instruct us to deny your loan forgiveness application. In its guidance, the SBA has indicated the reasons why it may decide to review an application for loan forgiveness.
The Paycheck Protection Program provides for a deferral period for the repayment of your loan. During this deferral period, the payments of principal and interest on PPP loans are deferred (interest will continue to accrue), which means you do not have to make payments on your loan during the deferral period. Repayment of your loan will begin 10 months after the end of the maximum loan forgiveness covered period (24 weeks) if you do not apply for forgiveness within the deferral period. We will consider you to have applied for forgiveness when a signed online application and all required responses and supporting documentation are received by Synovus. The final deadline to apply for forgiveness is the maturity date of your loan.