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The SBA said 1 million business owners have applied for PPP loan forgiveness through its direct forgiveness portal, but key deadlines remain.
The portal offer a streamlined way to seek loan forgiveness, but accountants are watching for the revenue reduction scores the SBA is using to make determinations.
"Our innovative direct forgiveness portal is helping our PPP borrowers get back to doing what they do best -- creating jobs and powering our nation's economy," SBA Administrator Isabella Guzman ...
To apply for forgiveness through the SBA, you should visit the SBA’s PPP Direct Forgiveness Portal. Fill out SBA Form 3508S if your loan was for $150,000 or less.
3. Submit the Forgiveness Form and Documentation If your lender is participating in direct forgiveness, complete the forgiveness form through the SBA PPP Direct Forgiveness Portal.
"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 ...
It started with an email suggesting there would be consequences for lenders that failed to use the Small Business Administration’s website to handle forgiveness applications for Paycheck Protection ...
The Small Business Administration has officially launched a streamlined Paycheck Protection Program loan forgiveness portal.
The Small Business Administration and the Paycheck Protection Program lending community are at odds over what the SBA says is an attempt by some lenders to delay forgiveness into 2022.
Furthermore, SBA indicated the number of direct forgiveness participating lenders has more than doubled from 600 when the portal opened, to more than 1,400.
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