Top Questions
Q: If I apply for PPP Loan Forgiveness, do I need to start making Principal and Interest (P&I) Payments?
A: If you apply for PPP Loan Forgiveness you do not need to start making Principal and Interest Payments unless your loan is not fully forgiven by the SBA.
Q: What is loan forgiveness and what happens if I do not apply?
A: In this context, loan forgiveness refers to the U.S. Small Business Administration (SBA) not requiring businesses that used PPP loans properly to pay back any principal, nor interest. If the forgiveness application is not completed by your business’s due date, the PPP loan becomes a 5-year, 1% monthly interest loan.
Q: The login page isn’t accepting the Business TIN and/or SSN I’m inputting, what should I do?
A: Please make sure you’re typing them in without any dashes or spaces. (NOTE: If you are a Doing Business As/DBA, your Business TIN and SSN may be the same.)
Q: Who is the Authorized Representative? (Information that is needed to login to the application)
A: The PPP loan applicant, most likely a principal/officer of the business. You can contact Sam Cloutier (413-568-1911 ext. 6699 or SCloutier@westfieldbank.com) to find out your Authorized Representative.
Q: I’m having trouble finding my Business Industry, what should I do?
A: Type directly into the box with key words that relate to the purpose and function of your business, and find an option that fits the closest to your industry
Q: What do I put for the End of Covered Period?
A: Between 8 and 24 weeks from the Start of Covered Period/Loan Disbursement Date (automatically filled out in the application), then subtract 1 day, and type in that date in the following format: MM/DD/2021.
Q: How do I log back in to E-sign?
A: You can log back in either through the link that is sent directly to the Authorized Representative Email Address from PayrollProtectionOperations@westfieldbank.com (add to your safe senders list), or by going back to the login page and using the same three fields as before (Business TIN, Authorized Representative Email Address, Authorized Representative Personal SSN).
Q: What is the “access code” when logging in to E-sign?
A: It is the last 4 digits of the of the Authorized Representative’s Personal SSN.
Additional Questions
- Can I submit a paper PPP Loan Forgiveness Application?
- Westfield Bank is not accepting paper PPP Loan Forgiveness Applications.
- What should I expect after submitting my PPP Loan Forgiveness Application?
- After an applicant submits a PPP Loan Forgiveness Request, Westfield Bank has 60 days to respond to the borrower. After that 60 day timeframe, the Small Business Administration (SBA) has 90 days to issue a ruling on the forgiveness amount for your loan. Once a decision has been made by the SBA, borrowers will be receiving additional communication.
- What information do I need to enter into the Westfield Bank PPP System to find my loan?
- Borrower Tax ID Number
- Borrower Social Security Number (SSN)
- Primary Business Email
- This email address needs to be the email address that was used to apply for the loan.
- Should I use the Applied Amount or the Disbursed Amount to find my Loan?
- You should use the Disbursed Amount
- What do I upload for documentation?
- You will need to upload applicable documents that detail how the loan proceeds were utilized. Those could include:
- 1a. Payroll: Cash Compensation for Employees
- 1b. Payroll: Tax Forms
- 1c. Payroll: Health Insurance & Retirement Contributions
- 2. FTE Documentation
- 3a. Nonpayroll: Mortgage Interest
- 3b. Nonpayroll: Rent or Lease
- 3c. Nonpayroll: Utilities
- If you have specific questions regarding these documents, please contact your accountant or tax professional.
- If the PPP loan was under $150,000, you will not need to upload any documents in order to submit the application.
- You will need to upload applicable documents that detail how the loan proceeds were utilized. Those could include: