SBA announces opening of PPP direct forgiveness portal

Ppp Loan Picture Id1218894547By Madi Hawkins / ASA

WASHINGTON, D.C. – The U.S. Small Business Administration (SBA) has announced the opening of a new direct forgiveness portal for Paycheck Protection Program (PPP) loans.

This portal will streamline the loan forgiveness process for businesses with loans under $150,000– a total of over 6.5 million businesses in the United States.

The portal began accepting applications on Wednesday, Aug. 4, 2021. Additionally, the SBA has set up a dedicated helpline to directly assist borrowers with their forgiveness applications.

To access the forgiveness portal and additional PPP resources, visit the SBA website here.