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  1. Borrowers must complete and submit a PPP loan forgiveness application. For a loan with an original amount of $150,000 or less, you can apply through the SBA PPP Direct Forgiveness portal. For a loan with an original amount over $150,000, please call the Business Service Center at 877-357-4716 to get started on a paper application.

  2. Jul 28, 2021 · The new forgiveness platform will begin accepting applications from borrowers on August 4th, 2021. 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 ...

  3. Mar 25, 2021 · As a reminder, you must request Forgiveness separately for each PPP loan that you may have. For a second PPP loan over $150,000, you must submit a Loan Forgiveness request for your first loan before or simultaneously with a Loan Forgiveness request for your second loan even if the first Loan Forgiveness request is $0.

  4. Jul 2, 2020 · The cons of applying for a PPP loan through Kabbage You can only receive up to $2 million According to the CARES Act, small businesses can receive the lesser of $10 million or 2.5 times their ...

  5. SBA is working to streamline the PPP forgiveness application process. Beginning in March 2024, all borrowers applying for forgiveness can use SBA's Direct Forgiveness Portal (DFP). This will ensure a more accessible process for borrowers, no matter loan size. All lenders will be required to decision forgiveness applications received through the ...

  6. Step 1: Access your PPP Application. When you submit a PPP loan request on SBA.com®, you are first redirected to your PPP application with our partner. If you just submitted your request, you should already be on this page. You will complete your application with our partner and then once it has all required information and documentation it ...

  7. Feb 22, 2021 · To address this problem, the Biden-Harris administration will revise the loan calculation formula for these applicants so that it offers more relief, and establish a $1 billion set aside for ...

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