SBA Announces Forgiveness Portal for Small PPP Borrowers
In an effort to streamline the Paycheck Protection Program (PPP) forgiveness process, this week the SBA announced the launch of a forgiveness application portal for borrowers with PPP loans of $150,000 or less.
Lenders are required to opt into the program. After confirming their lender has opted in, borrowers can begin submitting applications through the portal on August 4, 2021.
The SBA published a series of FAQs for both lenders and borrowers and established a PPP customer service team that borrowers can contact at (877) 552-2692.
We will continue to monitor PPP developments and provide updates as any changes occur. As always, if you have any questions or would like assistance as you navigate the PPP loan forgiveness process, please contact your Kreischer Miller relationship professional or any member of our team. For additional news and resources, visit our COVID-19 Resource Center here.