The Small Business Administration (SBA) has announced the opening of the Paycheck Protection Program (PPP) Direct Forgiveness Portal.
The new portal will streamline applications for loans of $150K or less. Applications from borrowers were accepted beginning Aug. 4, and new registration is required to utilize the portal.
In addition to the technology platform, the SBA will provide 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 between 8 a.m. and 8 p.m.
Businesses that received loans above $150K will need to apply for PPP loan forgiveness through their lender.
A user guide is available with instructions on registering and application submission. Go to SBA.gov, and click on the Paycheck Protection Program tab, and then follow the prompts.