This document and its content are for information purposes and shall not be interpreted as banking or financial intermediation, business solicitation and/or public offering of any kind. These Terms and Conditions ("Terms and Conditions") are for the Bank of America Corporation ("Bank of America") website and those websites of its affiliates (collectively the "Sites") including Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BofA Securities, Inc., Bank of America Capital Management and certain other affiliates enumerated herein (collectively "Affiliates") that are available through the Bank of America Sites and apply to all services, programs, information and products (collectively "Service") that you ("Client") may use or otherwise access from time to time through the Sites ("Agreement"). Please be sure to understand and comply with the guidance issued by the SBA. Lending, derivatives and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Limited, Merrill Lynch (Australia) Futures Limited, Merrill Lynch Equities (Australia) Limited and their related bodies corporate which hold, or are exempt from the requirement to hold, an Australian Financial Services Licence. How can I decline my invitation to apply for PPP loan forgiveness? <-- this "Loan app ID" is your "Lender PPP Loan Number". The name of my business has changed since January 1, 2020. How can I withdraw my current PPP loan forgiveness application so I can reapply with the 3508S? Links to non-Bank of America sites do not imply any endorsement of or responsibility for the opinions, ideas, products, information or services offered at such sites, or any representation regarding the content at such sites. These activities are performed globally by banking affiliates of BAC and in Australia by Bank of America, N.A. Equal Housing Lender. / When do I need to start making payments on my PPP loan? Bank of America has submitted a decision on your Paycheck Protection Program loan forgiveness application to the Small Business Administration: Bank of America has submitted a decision to the Small Business Administration (SBA) that the full forgiveness amount you requested on your Paycheck Protection Program (PPP) loan should be forgiven. The Sites are made available only to professional investors as such term is defined in the Securities Sales Prospectus Act. "Bank of America" and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed. 5) Finally, send the application to QuickBooks Capita, Attn: PPP Loan Forgiveness Processing, 2700 Coast Avenue, Mountain View, CA 94043. No registration or filing with respect to any securities or financial products available on the Sites has been made with any regulatory agency thereof. When To Apply Based on its latest updates, the Small Business Administration (SBA) has stated you can apply for forgiveness any time during the term of your loan, and the payment is deferred up to 16 months. Guide to PPP Loan Forgiveness - Published by the U.S. Chamber of Commerce and distributed locally through Chambers across America Managing Your PPP Funding - Tamara Gurney, President & CEO of Mission Valley Bank, provides advice and answers about PPP funds and forgiveness. In this challenging time, we continue to provide updates and support to our clients on our Client Resource Site. You agree to notify Bank of America or the applicable Affiliate in the event that you no longer desire to receive content through this delivery procedure and will allow a reasonable amount of time to permit proper delivery to you through other means. Regardless of the terms in your PPP Promissory Note, as long as you have an outstanding balance on your PPP loan, you may submit a loan forgiveness application any time after the end of your Covered Period, but on or before the maturity date of your loan. If a PPP loan received an SBA loan number before June 5, 2020, the loan has a two-year maturity,, unless the borrower and lender mutually agree to extend the term of the loan to five years. IMPORTANT NOTICE: Our Forgiveness portal will temporarily close on March 1st. Your application will be processed as soon as possible and you'll be notified of your application status through email. May Lose Value . Ouvidoria Bank of America Merrill Lynch1 | DDG: 0800 886 2000, 1Bank of America Merrill Lynch Banco Múltiplo S.A. and Merrill Lynch S.A. Corretora de Títulos e Valores Mobiliários. Client agrees that it shall not bring a suit or claim against Bank of America or its Affiliates arising from or based on your purchase or use of products or services through those other sites. You may also contact your Bank Representative for assistance. Unlike an actual performance record, simulated results do not represent actual trading. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. You can click the Cancel button now to return to the previous page. Are any individuals with an ownership stake in a PPP borrower exempt from application of the PPP owner-employee compensation rule when determining the amount of their compensation that is eligible for loan forgiveness? If your business already applied for a PPP Round 1 loan through Bank of the Sierra, you can check your application status online. Please note that your PPP loan deferral period will end prior to your maturity date, at which point you will need to start making payments on any unforgiven amount. Was my name disclosed by the SBA – or will it be in the future? CashPro® is a registered trademark of Bank of America Corporation in the United States and other countries. Client shall not permit any person other than an Authorized Person to access or use the Sites on its behalf or to use any User ID or Access Code and shall educate and familiarize those Authorized Persons who access and/or use the Sites with Client's obligations under this Agreement. For detailed information on the application, covered periods, the types of costs that are eligible for forgiveness, and what documentation you will need to submit in connection with your application, please visit the U.S. Treasury and SBA websites. For the most up-to-date information regarding PPP eligibility, please see the U.S. Treasury and SBA websites. Securities or other instruments on these Sites are only offered to professional market parties. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Legislation signed into law December 27, 2020, known as the Economic Aid Act, contained the following changes: The Paycheck Protection Program Flexibility Act, signed into law on June 5, 2020 contained the following requirements: For additional details, please visit the SBA website. Affiliates of Bank of America may make a market or deal as principal in the securities mentioned in these Sites or in options based thereon. Client further agrees not to upload to the Sites any data or software that cannot be exported without prior written government authorization, including, but not limited to, certain encryption software. Certain factors, which may not have been assessed for purposes of these valuations, including, for example, notional amounts, credit spreads, underlying volatility, costs of carry or use of capital and profit, may substantially affect a stated valuation. Business owner demographic information was an optional field on most bank's PPP applications, and thus the majority of loan records (over 80%) do not include this data. If you have already submitted your PPP loan forgiveness application using the 3508 or 3508EZ, please contact your bank representative. Access to the Sites is by invitation only to professional investors as defined in article 31 of CONSOB regulation no. According to the rules of the PPP program established by the SBA, a borrower who paid their PPP loan in full would not be eligible to apply for forgiveness. Such estimates do not necessarily reflect Bank of America’s or its Affiliates’ internal bookkeeping or theoretical model-based valuations. We’ll continue to process requests we have already received. Neither Bank of America, N.A., nor its Representative Office in Chile, is authorized to carry out in Chile any activities that are reserved by Chilean law to locally licensed banks. Bank of America reserves the right to limit or terminate Client’s or any Authorized Person’s access to and use of the Sites immediately and without notice. BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. The simplified SBA Form 3508S is now available, in addition to the revised SBA Form 3508EZ and SBA Form 3508 applications. We'll contact you if any additional documentation is required. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. While Bank of America and its Affiliates have obtained the information on which these evaluations are based from sources they believe are reliable, Bank of America and its Affiliates make no representations or warranties with respect to any indicative valuations. You now have the option to select a covered period which ends on a date that is at least 8 weeks following the date of loan disbursement, and not more than 24 weeks after the date of loan disbursement, Includes provisions that expand the list of allowable and forgivable expenses, which apply to existing PPP loans for which a borrower has not yet received forgiveness. Trading in securities and financial instruments, and strategic advisory and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. Please contact your relationship manager as soon as possible, but at least 10 business days before the proposed date of the sale or merger, so that we can provide assistance in setting up an escrow account if needed and answer other questions you may have as you go through this process. Services hereunder may be provided by Banc of America Securities, Limited, as agent or otherwise. You agree to receive certain documents and information provided by Bank of America and its Affiliates through the Sites and/or through email provided to you via the Sites. Bank of America is not responsible for and does not endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on other websites. All owners and authorized signers will have the ability to apply for the PPP Loan. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. Merrill Lynch Canada Inc. is registered as an Approved Participant of the Bourse de Montreal. You will not be eligible to receive loan forgiveness without supporting documentation. If your PPP loan is more than $150,000, you will apply for loan forgiveness online through Bank of America using one of the following forms: For additional assistance with PPP loan forgiveness documentation, view our documentation guide. “Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. I am planning to (i) sell all or part of my interest in my company, or (ii) merge my company with another company or (iii) sell some or all of the assets of my company to a third party, before my PPP loan is forgiven or paid in full. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Merrill Lynch Professional Clearing Corp., all of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. To learn more about disclosures by the SBA of PPP borrower information, please visit the SBA website or www.sba.gov/foia. Looking for information on the Economic Impact Payment for individuals and families? How long do I have to apply for loan forgiveness? Disclaimer for Australia | Disclaimer for Brazil | Disclaimer for Canada | Disclaimer for France | Disclaimer for Hong Kong | Disclaimer for India | Disclaimer for Latin America. If I have multiple owners and authorized signers associated with my eligible small business deposit relationship, can the second draw loan have a different signer? These activities are performed in Australia by Merrill Lynch Markets (Australia) Pty. Fifth Third Bank FITB started the process a couple of weeks ago. Preparing for Forgiveness America First is providing access to the Small Business Administration’s (SBA) Paycheck Protection Program portal, which assists members in preparing PPP loan forgiveness applications. This notice requires, in most situations, that the PPP lender provide confirmation to the SBA of your satisfaction of the requirements set forth in the Procedural Notice. Neither Bank of America Corporation nor any of its affiliates will ever ask you for your Social Security number, account information, passwords or PINs via Facebook or Twitter. This can include full, partial or no forgiveness. 3) If a borrower operates out of a shared rental, it must prorate rent and utilities as it did on its 2019 tax filings (or, for new businesses, as it will on its expected 2020 tax filings). To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs. Will that impact my loan application and the amount I am eligible for? In addition to providing for new PPP loans for first-time borrowers, the legislation also allows certain existing PPP borrowers to receive a “second draw” PPP loan if they have used all of their first loan (or will have by the time of disbursement of the second loan), have no more than 300 employees and can demonstrate a year-over-year quarterly revenue reduction of at least 25%. Disclosure of best execution obligations and routing practices for Merrill Lynch Canada Inc. (IIROC Dealer Member Rule 3300). If you have already received a PPP loan through Bank of America, you may be eligible to apply for a second draw PPP loan. If you don’t have one set up, please contact your Bank Representative. Client is not relying on any communication (written or oral) of Bank of America or its Affiliates as investment advice or as a recommendation to enter into a Transaction; it being understood that information and explanations related to the terms and conditions of a Transaction shall not be considered investment advice or a recommendation to enter into that Transaction. And where the payor requests forgiveness for amounts paid to a related party, the related party cannot also request forgiveness for that same amount. What is the Paycheck Protection Program (PPP)? No information or material contained in the Sites is or should be construed as amounting to an offer to enter into any transaction or investment whatsoever. For complete details, visit the SBA, U.S. Treasury Assistance for Small Business and U.S. Treasury FAQ websites. I have already received a PPP loan – am I eligible for another loan? and its Investment Banking Affiliates provide outside of Peru. This includes submitting an application, requesting and submitting documentation, and tracking the loan status. For questions related to PPP, please contact your Bank Representative. Bank of America N.A., Oficina de Representacion (Peru), is a representative office in Peru of Bank of America N.A., supervised by the Superintendencia de Banca, Seguros y Administradoras Privadas de Fondos de Pensiones and authorized to promote in Peru select products and services that Bank of America N.A. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs. provides outside of Chile. Deposits with BANA CB are not insured with the Canada Deposit Insurance Corporation. BANA CB shall not impose undue pressure on, or coerce, a person to obtain a product or service from a particular person, including bank and any of its affiliates, as a condition for obtaining another product or service from BANA CB. Bank of America hereby grants to Client a worldwide, non-exclusive, non-sublicensable, non-transferable, non-assignable, personal right and license to access and use the Sites solely for Client's internal use in accordance with the terms of this Agreement. Unless specifically identified as an offer to sell or a solicitation of any offer to buy, under no circumstances should any information on the Sites be used as or considered to be an offer to sell or a solicitation of any offer to buy the securities or any other instruments of Bank of America or any other issuer. Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed. Your application will be processed as soon as possible and you'll be notified of your application status through email. If you opt out, though, you may still receive generic advertising. All rights reserved. Client agrees to abide by applicable export control laws and not to transfer, by electronic transmission or otherwise, any content on the Sites subject to restrictions under such laws to a national destination prohibited under such laws, without first obtaining, and then complying with, any requisites government authorization. Eligible clients will receive an email with a link to access our loan forgiveness application when it becomes available to them. Update for Bank of the West PPP Loan Customers: We have begun to send email invitations to our customers to apply for PPP loan forgiveness based on loan funding date. You’ll either use: Form 3508S. Please visit the SBA website for the latest details on PPP, including program rules and requirements. document.write(new Date().getFullYear()) Australian Branch ("BANA Australia"). Do I have to apply for forgiveness of my original loan in order to apply for a second draw loan? FURTHERMORE, Bank of America WILL NOT BE LIABLE FOR ANY DELAY, DIFFICULTY IN USE, INACCURACY OF INFORMATION, COMPUTER VIRUSES, MALICIOUS CODE OR OTHER DEFECT IN THE SITES, OR FOR THE INCOMPATIBILITY BETWEEN THE SITES AND FILES AND THE USER'S BROWSER OR OTHER SITES ACCESSING PROGRAM. Please visit the SBA website for the latest details on PPP, including program rules and requirements. No provision of these Terms and Conditions shall restrict Client from taking any action required by any Applicable Law, any self-regulatory organization or any governmental entity to which it is subject. Your eligibility for particular products and services is subject to final determination and acceptance by Bank of America or its Affiliates. Access to the Sites is by invitation only to institutional investors. Certain hyperlinks on the Sites may link websites maintained by the Affiliates, which are not to be considered a part of the Sites. Client understands and agrees that Bank of America may report such information to regulatory authorities to the extent necessary, in its reasonable discretion, to comply with Applicable Law. Select the plus icon on the tile to save content to the utility tray. With this in mind, and in order to help all eligible clients complete the application process ahead of the SBA’s announced application deadline of March 31, 2021, we will support clients as follows: As a reminder, we will end all application processing at 5 p.m. Eastern on March 30. When does my PPP loan deferral period end? If you are not presented with this option while completing your application, or need additional assistance, please contact your bank representative. Your agreement for the use of these Sites is with Bank of America Singapore Limited. “The ACAP portal is one of the best services available for PPP loans, with ACAP & The Loan Source having serviced more than 35,000 PPP loans for $4.7 billion to date. In addition, all research, analysis and similar market information from non-affiliated third parties provided represent the views and opinions solely of the author or the indicated source. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. YOU ACKNOWLEDGE THAT NEITHER Bank of America, ITS AFFILIATES NOR THEIR OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, CONTRACTORS OR OTHER SUPPLIERS MAKES ANY WARRANTIES OR GUARANTEES WITH RESPECT TO THE SITES, INCLUDING WITHOUT LIMITATION, WARRANTIES REGARDING THE ACCURACY OR COMPLETENESS OF ANY CONTENT, OR WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT OF INTELLECTUAL PROPERTY, TITLE OR FITNESS FOR A PARTICULAR PURPOSE. Eligible clients can apply now for PPP loan forgiveness. Once we submit a client’s application to the SBA, the client may be unable to withdraw it. One or more directors, officers and/or employees of Bank of America or its Affiliates may be a director of the issuer of the securities mentioned at these Sites. Access to the Sites is by invitation only to professional investors with a valid password. Clients who wish to withdraw and apply using the simplified application process should notify us immediately. Investment products offered by Investment Banking Affiliates: Bank of America N.A., Oficina de Representacion (Colombia), is a representative office in Colombia of Bank of America N.A., supervised by the Superintendencia Financiera de Colombia and authorized to promote in Colombia select products and services that Bank of America N.A. You do not need to apply for loan forgiveness on your first PPP loan in order to be eligible for a second draw PPP loan. Banc of America Securities Limited is regulated for the conduct of investment business in the United Kingdom by the Securities and Futures Authority Limited. Does Bank of America disclose the names of PPP recipients? If you are eligible and plan to apply for a first draw Paycheck Protection Program loan, you should note the following: Have a Small Business or Business checking relationship with us and do not have a business credit or borrowing relationship with another bank. Bank of America, ITS AFFILIATES AND SUCH PERSONS SHALL NOT BE LIABLE TO YOU FOR ANY LOSS, COST, DAMAGE OR OTHER INJURY, WHETHER IN CONTRACT, TORT, NEGLIGENCE OR OTHERWISE, ARISING OUT OF OR CAUSED IN WHOLE OR IN PART BY (I) CLIENT'S USE OF OR RELIANCE ON THE SITES, OR (II) Bank of America’s PERFORMANCE OF ITS OBLIGATIONS UNDER OR IN CONNECTION WITH THESE TERMS AND CONDITIONS. Offers can only be made where lawful under applicable law. Client agrees to provide Bank of America with all information, cooperation and assistance, documents and data as shall reasonably be requested by Bank of America in order to enable Bank of America to comply with any and all Applicable Law. If you prefer that we do not use this information, you may opt out of online behavioral advertising. Bank of America shall assign to each Authorized Person a unique User ID ("User ID") and a corresponding password and/or other access codes (each, an "Access Code") to enable Authorized Persons to access and use such functions within the Sites as Client shall authorize. Can I apply for a second draw loan through Bank of America? Bank of America and its Affiliates reserve the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by you. For borrowers that received a PPP loan before June 5, 2020 and elect to use an eight-week Covered Period, this cap is $15,385 per individual or the 8 week equivalent of their applicable compensation in 2019 (whichever is lower) in total across all businesses in which he or she has an ownership stake. No, your second draw PPP loan is not dependent on forgiveness being completed for your first loan. For additional information, please visit the SBA website. No. Prior to taking any such action, Client shall, to the extent reasonably practicable given the then-current circumstances, notify Bank of America in writing thereof and consult with Bank of America regarding the steps to be taken to ensure compliance with Applicable Law. The SBA may require more accurate demographic information when companies file for PPP loan forgiveness. Zelle – a safe and easy way to send money fast, Direct message @BofA_Help on our verified Twitter account. "Bank of America Merrill Lynch" is the marketing name for the global banking and global markets businesses of Bank of America Corporation. We will begin accepting these costs in several weeks and will email you when these updates are made. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. - About a broker's past experience By clicking Continue, you will be taken to a website that is not affiliated with Bank of America and may offer a different privacy policy and level of security. CB Top Ten Report 2019 Top Ten Percent of C-Corp Banks between $100 - $249 Million in … This assurance and commitment shall survive termination of these Terms and Conditions. If you are eligible at this time to apply for loan forgiveness, you will see a link under Actions required titled “Apply for or decline forgiveness.” Once your application is submitted, the Forgiveness status will indicate where you are in the loan forgiveness process. ©2020 Bank of America Corporation. 21) Can I withdraw my PPP Loan Forgiveness application after I have already submitted the request? Bank of America is committed to supporting you and all of our clients during this challenging period. The Sites may be used only for lawful purposes. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Client acknowledges that not all products and services listed or discussed in the Sites are available in all geographic areas. The application will be processed as long as the EIN/TIN of the business in the application is the same as EIN/TIN on the business’s supporting documentation. If you previously received a PPP loan through another lender, and wish to apply for a second draw PPP loan, you should submit your second draw application to that original lender. Also, since the trades have not actually been executed, the results may have under or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Bank of America México, S.A., Institución de Banca Múltiple is a banking affiliate in Mexico of Bank of America Corporation. PPP.BANK is a free, secure resource for small businesses, non-profits, and sole proprietors across the United States who received a Paycheck Protection Program (PPP) loan and are now applying for forgiveness. How can I appl… If you are eligible and wish to apply for a second draw loan: I received my first PPP loan from another lender. Client further agrees that it shall not contest the legally binding nature, validity or enforceability of any transaction, document or confirmation based on the fact that it has been executed by "clicking" on the designated spaces and expressly waives any and all rights it may have to assert such claim. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill Account Access. Bank of America and its Affiliates do not independently verify the accuracy or completeness of such information, nor does Bank of America and its Affiliates endorse any particular views expressed therein. An indicative valuation may differ substantially from an actual value. "Bank of America” and "BofA Securities" are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation.