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COVID-19 Messages, Branch Updates, Stimulus Payments & SBA/PPP Info


PPP Forgiveness FAQs

SBA Information on the PPP


Loan Forgiveness Application Form EZ

Loan Forgiveness Application Form

July 1, 2020

We have paused accepting new PPP applications as we await guidance on the efforts in Congress to extend the program until August 8. Once we receive direction from the Small Business Administration that the program has been extended, we will post updates and will resume accepting applications for new loans.


June 23, 2020

Last Call to Apply for Paycheck Protection Program (PPP) Loan
June 30 is Last Day SBA Can Approve Applications 

If you know of a friend or small business who can still benefit from this program, please let them know that time is running out to apply.

There is only one week left for small businesses, nonprofits, independent contractors and other eligible borrowers to access a forgivable loan through the Paycheck Protection Program (PPP). More than $128 billion in PPP funds are still available.  

The PPP is a loan designed to provide a direct incentive for small businesses and nonprofits to keep their workers on the payroll. The SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. 

Please refer people to your Coastal banker or the Customer Support Center at 425.257.9000.


June 22, 2020

The U.S. Small Business Administration (SBA) and Treasury Department announced Friday that they will release a data set showing which businesses received taxpayer-funded Paycheck Protection Program loans in amounts of $150,000 and above.
The SBA will disclose the business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, jobs supported, and loan amount ranges as follows:
• $150,000-350,000
• $350,000-1 million
• $1-2 million
• $2-5 million
• $5-10 million
For loans below the $150,000 threshold, business names will be redacted, while zip code, industry, business type and other demographic categories will be released in some detail, the SBA said.
Because this is a change to the program, we wanted you to be aware of it. We do not have a date for the release of the information.

June 17, 2020

Today, the U.S. Small Business Administration (SBA) posted two new Paycheck Protection Program (PPP) loan forgiveness applications:

  1. A revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law on June 5, 2020. 
  2.  In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:
  • Are self-employed and have no employees; OR
  • Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
  • Experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%.
  • The EZ application requires fewer calculations and less documentation for eligible borrowers. Details regarding the applicability of these provisions are available in the instructions to the new EZ application form. 

Both applications give borrowers of loans made before June 5, 2020 the option of using the original 8-week covered period or an extended 24-week covered period. 

These changes will result in a more efficient process and make it easier for businesses to realize full forgiveness of their PPP loan. If you are unsure which form to complete, start by completing the checklist on the EZ Forgiveness Application Instructions.

We anticipate that the issuance of these new applications will be followed by the SBA issuing guidance about the process for accepting forgiveness applications, along with the target date they will begin accepting applications. We will let you know when we will be able to take your application and the process for doing so. Prior to completing your PPP Forgiveness Application (SBA Form 3508 or SBA Form 3508EZ) please be sure that you are using the most current version. On the bottom left of each page after the form number should be (6/20).  

We have posted links to both revised PPP Forgiveness Applications below:

If you have any questions regarding PPP loan forgiveness, please contact your local Coastal banker who can forward your question to the PPP Support Center or reach out directly through the number or email below.


[email protected]


June 12, 2020

The recent changes to the Paycheck Protection Program (PPP) brought about by the passage of the Paycheck Protection Program Flexibility Act of 2020 which became law on June 5, 2020 will require a revised Small Business Administration (SBA) Forgiveness Application (SBA Form 3508), which has not yet been released.

As a result, we will not be able to begin accepting your application for forgiveness on June 15 as we had hoped.

As soon as the new application for PPP loan forgiveness is released by the SBA, we will let you know. We may need to wait beyond issuance of the application until SBA issues their guidance with instructions on accepting these applications and opens their portal for processing.

New PPP Applications, please call 425.257.9000

Existing PPP Customers with Forgiveness question can call 425.349.9097 or email  [email protected]


June 8, 2020

The Paycheck Flexibility Act which makes substantial changes to the Paycheck Protection Program (PPP) has been passed into law. Now that the Bill has been signed by the President, the Small Business Administration (SBA) will issue guidance regarding implementing these changes. There are many questions unanswered, including how the SBA and banks will handle new loan terms. The SBA and Treasury announced this morning that there will be an update to the SBA Forgiveness Application, which we will share as soon as it is released.

The key components of the Paycheck Protection Program Flexibility Act are:

  • Extend the “covered period” under which small businesses can spend the loan proceeds from 8 weeks to 24 weeks.  Borrower can choose to use the originally authorized 8-week period.
  • Extend the loan terms for any unforgiven portions that need to be repaid from two years to five years, at 1% interest on a go-forward basis. Any pre-existing loans may amend the note to reflect new maturity terms if both the lender and borrower mutually agree. This will likely occur at the time of loan forgiveness. 
  • Expand the 25% cap to use PPP funds on nonpayroll expenses, such as rent, mortgage interest and utilities, to 40% of the total loan. That lowers the 75% requirement for payroll expenses to 60% to get maximum forgiveness.
  • Give small businesses more time to rehire employees or to obtain forgiveness for the loan if social-distancing guidelines and health-related actions from the Centers for Disease Control and Prevention or other agencies prevented the business from operating at the same capacity as it had before March 1. In this situation, the covered period during which a loan recipient may use such funds for certain expenses while remaining eligible for forgiveness goes from 8 weeks to 24 weeks, or until December 31.
  • Extend the period before a borrower must start making interest and principal payments to the date the forgiveness amount is received by the bank from the SBA, or 10 months after the end of the 24-week covered period,
  • Allow small businesses to take a PPP loan and also qualify for a separate, recently enacted tax credit to defer payroll taxes, currently prohibited to prevent “double dipping.”

We will continue to update you as this develops and we learn more about the provisions of the Paycheck Flexibility Act and SBA’s guidance on implementation of the changes.


June 5, 2020

The President signed the Paycheck Protection Program Flexibility Act of 2020 today, updating the Paycheck Protection Program. While we need to await guidance from the Small Business Administration (SBA) and Treasury regarding implementation of the new rules, we will have updates about the changes for you very soon.  

Additionally, we continue to accept PPP Applications. Please contact us if you are interested.


May 22, 2020

On 5/21/2020 Snohomish County announced the creation of the Snohomish County Small Business Relief, Recovery, and Resiliency Program (R3) to support small businesses adversely impacted by the COVID-19 pandemic. For more information please go here:


Paycheck Protection Program

May 18, 2020 - The SBA has released Form 3508, Paycheck Protection Program (PPP) Loan Forgiveness Application, and indicated that it will soon issue regulations and guidance to help borrowers complete their applications and inform lenders of their responsibilities.

Here is a link to the SBA Loan Forgiveness Application and Instructions and we will release further direction as soon as it is available, including how to apply for forgiveness for your PPP loan with Coastal Community Bank.

The application has four components:

1. The PPP Loan Forgiveness Calculation Form

2. PPP Schedule A

3. The PPP Schedule A Worksheet

4. An (optional) PPP Borrower Demographic Information Form

Borrowers are required to submit items (1) and (2) to their lender.

May 15, 2020 - Coastal Community Bank continues to accept complete applications from both current and new customers for the Small Business Administration (SBA) Paycheck Protection Program (PPP).

Coastal’s acceptance of your package does not guarantee that the SBA will have sufficient funds to approve your loan, and we do not know how long the current funding for this round will last. This page will be updated as soon as we know more.

If you would like an application package, please contact your local branch or call us at 425.257.9000 during regular business hours.

PPP Forgiveness

If you have already have secured your funding through the Small Business Administration (SBA) Paycheck Protection Program (PPP), we know you will have questions about the forgiveness portion of the PPP. While we don’t yet have the final guidance from the SBA and Treasury on the process or all the aspects of the loan forgiveness calculation, we do know some high level information that we can share with you today.

Documentation must be provided to substantiate the expenditures, so plan for that.

How does a borrower get the entire PPP loan forgiven?

The borrower will not be responsible for any loan payment if:

1.         The borrower uses all loan proceeds for forgivable purposes, and

2.         Employee and compensation levels are maintained.

How is the forgiveness amount calculated?

The actual amount of loan forgiveness depends, in part, on payments made over the eight-week period following the date of the loan, including:

1.         The total amount of payroll costs,

2.         Payments of interest on mortgage obligations incurred before February 15, 2020,

3.         Rent payments on leases dated before February 15, 2020, and

4.         Utility payments under service agreements dated before February 15, 2020.

How much of the loan forgiveness must be attributable to payroll costs?

At least 75% of the loan forgiveness amount must be attributed to payroll costs.  Not more than 25% of the loan forgiveness amount may be attributable to non-payroll costs.

What documentation will I be required to submit to my lender with my request for loan forgiveness? 

In addition to the borrower certification required by Section 1106(e)(3) of the Act, to substantiate your request for loan forgiveness, if you have employees, you should submit Form 941 and state quarterly wage unemployment insurance tax reporting forms or equivalent payroll processor records that best correspond to the covered period (with evidence of any retirement and health insurance contributions). 

Whether or not you have employees, you must submit evidence of business rent, business mortgage interest payments on real or personal property, or business utility payments during the covered period if you used loan proceeds for those purposes.  

Once we receive the final guidance, we will provide you with the details and instructions for submitting your requests. 


April 23, 2020 – The House is expected this afternoon to approve the bill providing an additional $320 billion in funding for the SBA’s Paycheck Protection Program. We expect to begin submitting loan applications by the end of the week.

Coastal Community Bank continues to accept complete applications from both current and new customers for the Small Business Administration (SBA) Paycheck Protection Program (PPP).

We have many loan applications pending that were not funded with the first wave of funding. These loan requests will be processed in the order received followed by the addition of any new loan requests.

Coastal’s acceptance of your package does not guarantee that the SBA will have sufficient funds to approve your loan.

If you would like an application package, please contact us at 425.257.9000 during regular business hours.

Here are some updated PPP FAQs from the SBA that you may find helpful. 

Thank you for your patience as we work through this difficult time together.


Economic Stimulus Payments
Economic Impact Payments (or stimulus checks) from the IRS are scheduled to begin arriving in bank accounts April 15-29. If a consumer does not have direct deposit set up with the IRS, they will receive a check. Paper checks will begin to be processed on April 20, with the first batch arriving the week of May 4.

Please check your Online or Mobile banking to see if your payment has been received. Payments will appear as a direct deposit and look like a tax refund credit entry from IRS TREAS 310.

To learn more visit:

If you haven't yet filed your taxes, visit

Check the status of our payment here:


For customers with safe deposit boxes – please call our Customer Support Center 425.257.9000 to arrange a time should you need to access your box during our lobby closures. 


The Customer Support Center’s hours are 9 AM to 6 PM. They can be reached at 425.257.9000.


Since 1997 Coastal has been here for you good and bad times. We have built a bank with a strong balance sheet as reflected in our Bauer 5-Star Rating. As the situation evolves, things are changing rapidly, and we want to make sure you have all the information you need to manage your banking as easily as possible.


We will post updates about closed branches to our website (above under Important Updates) and social media.

We have taken steps to ensure branches can remain open with relatively limited staff, but that will impact service levels, so we ask for your patience in those situations. If drive-up lines are long, our secure night drops are being processed multiple times during the day by two staff members.

If you are a customer of a branch that is temporarily closed, know that we will work to re-open it as soon as we can. However, should you need access to a safe deposit box, we will arrange for staff to be at a closed location for individual appointments for clients as needed.


While we’ve modified our operations, closing our lobbies and moving most transactions to the drive-up, we are still here to support you.

  • We encourage all customers to do their in-person banking using our drive-up windows. All 14 branches have drive-ups.
  • Our bankers stand ready to assist you and can be reached by phone and email.
  • Our mortgage lenders are working with clients via phone and email.
  • Our credit card processing and treasury management staff are working with clients via phone and email.
  • Use your camera-enabled mobile device and our mobile app to deposit checks.
  • Transfer money to family or friends using Zelle®.
  • Use online banking to pay your bills.
  • Call our Customer Service Team (425.257.9000) to ask questions via telephone.
  • The Night Drop Box at all locations will be checked multiple times per day.
  • Access 30,000+ surcharge-free ATMs across the country with the MoneyPass® ATM Network. Find an ATM near you.


U.S. Chamber of Commerce Small Business Guide Checklist for Emergency LoansPDF Download

SBA Paycheck Protection Program

SBA Economic Injury Disaster Loan - Apply directly with the SBA

SBA Disaster Loan Assistance

SBA Disaster Assistance in Response to the Coronavirus

Washington State Employment Security Department


In addition to your personal health, you also need to practice safe cyber hygiene. Many scammers prey on people during a time of crisis. The Federal Trade Commission has tips to protect yourself from possible coronavirus-related scams.

  • Make sure your anti-virus and anti-malware software is current.
  • Do not click on links or attachments from unknown sources.
  • Watch out for bogus claims for vaccinations or cures.
  • Be cautious of websites asking for donations.

Here are more tips to protect yourself financially from the impact of the coronavirus.

Avoid scams while finding help during quarantine

Grandparent scams in the age of Coronavirus

While you’re at home, spot the scams

Want to get your Coronavirus relief check? Scammers do too.

60 and over in the time of COVID-19? Read on.


Since 1933, no depositor has ever lost a penny of FDIC-insured funds. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. The FDIC provides Frequently Asked Questions and other resources for consumers that we encourage you to review