The U.S. Small Business Administration (SBA) this week officially launched its new streamlined Paycheck Protection Program loan forgiveness portal, for loan recipients of $150,000 or less in 2nd draw PPP funding. The program will open to the broader general public on Wednesday of this week, August 4. Although at the present time, the forgiveness portal is only open on an “invite-only pilot mode”, but once opened to the public, it will allow qualified borrowers ($150,000 or less) to apply directly to the agency for forgiveness, rather than having to go through their banking institution. More information will be coming from the SBA later this week.
