PPP Direct Loan Forgiveness Portal Opens Aug. 4

The U.S. Small Business Administration (SBA) has announced that it has created a PPP Direct Loan Forgiveness Portal to streamline the process by which small businesses who received less than $150,000 can apply for loan forgiveness. Over 600 banks have opted in to use the new portal created by SBA and other lenders are being encouraged to join. Borrowers should check with their lending institution to verify whether it will be using the PPP Direct Loan Forgiveness Portal.

The new portal will begin accepting applications on Wednesday, August 4, 2021. The portal can be accessed HERE! There is also a user guide for the new portal HERE!

The SBA has also created a PPP customer service team to answer questions and assist borrowers in with their forgiveness applications. The customer service team can be reached by calling (877) 552-2692. Hours for customer service are Monday-Friday, 8:00am-5:00pm Eastern.