United States:
SBA Reports That PPP Forgiveness Process Will Be More Streamlined
22 September 2021
Shulman Rogers
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The SBA announced that, as of August 4, 2021, it will have a new
portal to submit applications for forgiveness of all loans less
than $150,000.00. Due to the extensive backlog of applications, the
SBA has elected to open the new portal. This will allow borrowers
with smaller loans to avoid the lengthy process of going through
the larger lenders' forgiveness process and go directly to the
SBA. You will need to check with your lender to determine whether
it opted into this new direct forgiveness process.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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