Paycheck Protection Program (PPP) Direct Forgiveness Portal Coming Soon

On August 4, SBA will launch an application portal allowing borrowers with PPP loans of $150,000 or less, through participating lenders, to apply for forgiveness directly through SBA. To date, more than 600 banks have opted in to direct forgiveness, enabling more than 2.17 million borrowers to apply through the portal. Read the SBA news release here, and get additional background from the Journal of Accountancy.