For borrowers that received a paycheck protection loan in 2021, Trustmark is pleased to announce we have partnered with The Loan Source, Inc. ("Loan Source"), an industry-leading processor of Small Business Administration ("SBA") Paycheck Protection Program (PPP) loan forgiveness applications. The Loan Source and its servicing partner, ACAP SME, LLC (“ACAP”), have invested heavily in technologies and personnel to aid PPP borrowers through their forgiveness process via an online portal, and we are excited to partner with a group that is dedicated to this effort.
As has been commonplace since the beginning round of the PPP program, the SBA will likely implement more changes to the forgiveness program that have the potential to significantly ease restrictions. Historically, these adjustments have been extremely positive for our customers, offering significantly reduced documentation requirements and other positive measures that have substantially increased the number of PPP loans receiving full forgiveness.
Both Trustmark and Loan Source continue to monitor the SBA's actions closely. We are confident that the forgiveness start date on or before October 31, allows ample time to for any of the SBA's modifications to be fully implemented. We encourage you to also monitor the SBA's PPP website along with the many resources available at theloansource.com.
Again, we are excited about this strategic partnership with Loan Source. Their positive and long-standing reputation with the SBA, along with their wealth of experience in processing PPP forgiveness applications, should ensure you have an excellent customer service experience.
Specific questions that you may have can be directed to our PPP Forgiveness customer service team at firstname.lastname@example.org.
For additional information, visit the US Treasury Department CARES Act Overview Page.