The U.S. Small Business Administration is launching a streamlined application portal to allow borrowers with Paycheck Protection Program (PPP) loans under $150,000 through participating lenders to apply for forgiveness directly through the SBA.
The new forgiveness platform will begin accepting applications from borrowers on August 4. Lenders are required to opt-in to this program through https://directforgiveness.sba.gov. In addition to the technology platform, the SBA is standing up a PPP customer service team to answer questions and directly assist borrowers with their forgiveness applications. Borrowers that need assistance or have questions should call (877) 552-2692, Monday – Friday, 8 a.m. – 8 p.m. ET.
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