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Paycheck Protection Program (PPP) Loans

Financial Relief for Businesses

Updated July 7, 2021, at 9:00 a.m.

Second Round of Funding

Funding has ended for PPP. At this time, we are not accepting any new applications.

PPP Loan Forgiveness

What are the forgiveness requirements?

Borrowers are required to spend at least 60% of the funds on payroll to receive full forgiveness. The other 40% may be used on eligible costs. These costs include certain mortgage expenses, rent and utility payments. The bill expands forgivable expenses to include expenditures for personal protective equipment and other gear to protect workers; supplier costs; operations expenditures, such as software; and property damage costs due to public disturbances during 2020. The legislation also clarifies that businesses that received PPP loans may take tax deductions for the expenses covered by forgiven loans.

PPP Loan Forgiveness for loans funded after January 2021:

If you received a PPP loan in 2021, you will receive a link to begin the forgiveness process by the end of August 2021. As a reminder, we are not accepting paper applications and will only accept applications using the portal.

PPP Loan Forgiveness for loans funded prior to August 2020:

All businesses have received an email with a personalized link to a secure portal where the loan forgiveness application can be submitted. If you have not received the email, please contact us at ppp@midflorida.com.

Please refer to the SBA Treasury website for more information. If you have any further questions about PPP loans, please call our Business Services department at 863-262-3164 between 9:00 a.m. and 4:00 p.m., Monday through Friday.