PPP Forgiveness Portal Open

August 10, 2021

Last week, the U.S. Small Business Administration opened a new application portal for direct Paycheck Protection Program (PPP) forgiveness. The portal allows borrowers to apply for forgiveness directly with SBA, which will streamline forgiveness applications for over 6.5 million businesses.

The initiative is only for loans of $150,000 or less, which make up 92% of the PPP loans distributed. The new online portal is reportedly designed to streamline the process both for borrowers and for the program’s nearly 5,500 lenders.

You can visit the portal here.