On August 4th the Small Business Administration (SBA) will open a new streamlined portal to expedite the process of receiving forgiveness for a PPP loan. The portal will be for loans that are $150,000 or less.
Lenders are required to opt-in to the program through directforgiveness.sba.gov.
In addition to the new portal the SBA’s customer service team is available from 5 a.m. to 5 p.m. weekdays at (877) 552-2692 to answer questions and directly assist borrowers with forgiveness applications.
Note: If a business owner has already applied through their lender they cannot apply through the new portal. It is only for those who have not yet started the forgiveness process.
For further assistance please contact Grier Melick, Frederick County Business Consultant at firstname.lastname@example.org.