SBA opens Paycheck Protection Program Direct Forgiveness Portal

WASHINGTON — The U.S. Small Business Administration launching a streamlined application portal to allow borrowers with Paycheck Protection Program loans $150,000 or less through participating lenders to apply for forgiveness directly through the SBA.

“The SBA’s new streamlined application portal will simplify forgiveness for millions of our smallest businesses — including many sole proprietors — who used funds from our Paycheck Protection Program loans to survive the pandemic,” Administrator Isabel Casillas Guzman said. “The vast majority of businesses waiting for forgiveness have loans under...