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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.
Answer: Yes. All PPP lenders may accept scanned copies of signed loan forgiveness applications and documents containing the information and certifications required by SBA Form 3508, 3508EZ, or lender equivalent.
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.
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.
If a business received an Economic Injury Disaster Loan advance in addition to a Paycheck Protection Program (PPP) loan, the amount of the Economic Injury Disaster Loan advance will be deducted from the PPP loan forgiveness amount by SBA.
Paycheck Protection Program (PPP) borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either the 8- or 24-week period after disbursement.
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.
