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.
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