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Mar 13, 2024 · Borrowers may be eligible for Paycheck Protection Program (PPP) loan forgiveness. Content. Where to apply for loan forgiveness. Effective March 13, 2024, all borrowers, regardless of loan size, can use SBA's direct forgiveness portal . Applying for forgiveness using the portal can take as little as 15 minutes.
Register and Apply for PPP Forgiveness. This portal is made available by the US Small Business Administration to streamline forgiveness processing for PPP Borrowers. After registration, you may use this streamlined process to automatically submit your forgiveness request to your lender.
Paycheck Protection Program. An SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $659 billion toward job retention and certain other expenses.
Oct 9, 2020 · WASHINGTON – The U.S. Small Business Administration, in consultation with the Treasury Department, today released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less.
You can apply for forgiveness of your First or Second Draw Paycheck Protection Program (PPP) Loan using this SBA Form 3508S only if the loan amount you received from your Lender was $150,000 or less for an individual First or Second Draw PPP
May 15, 2020 · The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses. The Paycheck Protection Platform allows lenders to submit PPP loan requests and their forgiveness decisions to the SBA.
Jul 20, 2023 · If you received a PPP loan, you may be able to apply for forgiveness. If this is granted, you won’t have to repay the loan. You should apply for PPP forgiveness as soon as possible.
Jan 9, 2023 · Yet nearly three years after the rollout of PPP, the vast majority of loans have been forgiven. An NPR analysis of data released on Jan. 8 by the Small Business Administration found that 92%...
