Small Business Administration (SBA) Announces Streamlined Process for PPP Loan Forgiveness

New Portal Opens August 4, 2021

The U.S. SBA is launching an online portal on August 4, 2021, to process PPP loan forgiveness program applications directly, assisting individual banks that have opted-in to the program. This streamlined process is available to borrowers who received $150,000 or less, benefiting millions of small businesses and independent contractors by reducing the burden on lenders to process millions of loan forgiveness requests.

Important Information:

Save the date: August 4, 2021

Bookmark portal link.

Review the PPP Direct Forgiveness Platform User Guide.

Check the FAQ frequently as the SBA is updating it regularly.