Coronavirus Aid, Relief and Economic Security (CARES) Act

Paycheck Protection Program

June 12, 2020 -  Mechanics Bank is not able to provide information that could be construed as financial or legal advice regarding PPP loan fund proceed usage and/or loan forgiveness eligibility and criteria. Please review the material on the SBA website and/or Treasury Department website  for the most complete and timely updated information and documents available. We also suggest borrowers consult an attorney and/or certified public accountant to discuss their particular situation.

We are no longer accepting Paycheck Protection Program loan applications.


Loan Forgiveness Process


  • We are working on updating our systems to align with the new requirements in the recently passed PPP Flexibility Act. 
  • As soon as our Loan Forgiveness Application Portal is available, we will send you an email notification for you to start your Loan Forgiveness Application. You will be asked to complete an electronic version of the Forgiveness Application and upload supporting documentation, similar to how your loan application was completed and processed.
  • Please note that while your initial eight (8) week forgiveness calculation period may have recently ended, you are currently NOT required to submit your Loan Forgiveness Application at this time.
  • Remember, regardless of your forgiveness eligibility, your loan payments are automatically deferred until your forgiveness amount is received by the SBA or, if you do not apply for forgiveness, 10 months after the end of your covered forgiveness period (either 8 weeks or 24 weeks). 
  • Please review the SBA’s recently updated 11-page Loan Forgiveness Application , which includes instructions and the following components, which are required unless noted:
    1. PPP Loan Forgiveness Calculation Form
    2. PPP Schedule A
    3. PPP Schedule A Worksheet
    4. PPP Borrower Demographic Information Form (Optional)

Potential Congressional and Regulatory Changes

It is the Borrower’s responsibility to remain informed of all terms of the loan proceed usage and forgiveness eligibility and criteria as outlined by the SBA and U.S. Department of Treasury. Congress is currently considering a number of additional changes to the PPP program, however, enactment of these changes is not guaranteed. Until any changes are enacted into law or until the Treasury Department and SBA change any regulations and guidance, the current rules as specified on the SBA and Treasury Department website applies to all borrowers.