SBA Opens Online PPP Loan Forgiveness Portal
Earlier this month, the Small Business Administration (SBA) opened a Paycheck Protection Program (PPP) loan forgiveness portal for those whose loans amount to $150,000 or less, the organization announced.
The purpose of the portal, according to the SBA, is to make it easier for the millions of small business owners who took out PPP loans. According to the SBA, almost 7 million PPP loans are still not forgiven, and over 90 percent of PPP loans are eligible for forgiveness through the portal. The SBA will handle the forgiveness requests directly and says applying for forgiveness will only take a few minutes with the new portal.
In response, the National Federation of Independent Business (NFIB) has gathered additional to assist business owners applying for forgiveness.
