SBA announces opening of Paycheck Protection Program direct forgiveness portal

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WASHINGTON – The U.S. Small Business Administration is launching a streamlined application portal to allow borrowers with Paycheck Protection Program loans under $150,000 through participating lenders to apply for forgiveness directly through the SBA. “The SBA’s new streamlined application portal will simplify forgiveness for millions of our smallest businesses -- including many sole proprietors -- who used funds from our Paycheck Protection Program loans to survive the pandemic,” Administrator Isabel Casillas Guzman, said. “The vast majority of businesses waiting for forgiveness have loans under $150,000. These entrepreneurs are busy running their businesses and are challenged by an overly complicated forgiveness process. We need to deliver forgiveness more effic
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