SBA Announces Opening of Paycheck Protection Program Direct Forgiveness Portal

District Office representing Central South Texas

u s small business administration

SBA Announces Opening of Paycheck Protection Program Direct Forgiveness Portal  

PPP forgiveness

 

The  U.S. Small Business Administration (SBA) is launching a streamlined application portal to allow borrowers with Paycheck Protection Program (PPP) loans $150,000 or less through participating lenders to apply for forgiveness directly through the SBA.  

“The opening of this portal allows a simpler method for borrower and lender to meet the need of the business, lender and the agency,” said Region 6 Acting Administrator Herbert Austin. 

This new change will help rush relief to over 6.5 million smallest of small businesses nationally, which has been the priority of SBA Administrator Isabel Guzman since day one.

The new forgiveness platform will begin accepting applications from borrowers on August 4. Lenders are required to opt-in to this program through https://directforgiveness.sba.gov.

A customer service team is available to answer questions and directly assist borrowers with their forgiveness applications. Borrowers that need assistance or have questions can call (877) 552-2692, Monday – Friday, 8 a.m. - 8 p.m. EST.