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Paycheck Protection Program updates for business customers.

Paycheck Protection Program

Paycheck Protection Program (PPP) Loan Forgiveness

We’re accepting 3508S, 3508EZ and 3508 loan forgiveness applications for First and Second Draw Paycheck Protection Program (PPP) loans until their maturation dates. To submit your application, please email pppforgivenessoffice@captialone.com who will respond within two business days to provide next steps. We’re here to answer any questions you may have. Please contact your dedicated business banker, relationship manager, or call 1-855-422-7663 Monday-Friday, 8 a.m.-8 p.m. ET.

Keep in mind that the streamlined loan forgiveness application (3508S) is available for borrowers who received a PPP loan of $150,000 or less, while 3508EZ and 3508 are available for loans of all sizes. Per SBA guidance, borrowers with a Second Draw PPP Loan in excess of $150,000 must submit a loan forgiveness application for their First Draw PPP Loan before or simultaneously with the loan forgiveness application for their Second Draw PPP Loan, even if the calculated amount of forgiveness on their First Draw PPP Loan is zero.  Please visit the SBA PPP loan forgiveness website to familiarize yourself with these forms and instructions before you start your online application.

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Last Updated 11/2/2023