The U.S. Small Business Administration is launching a streamlined application portal to allow borrowers with Paycheck Protection Program loans of $150,000 or less, through participating lenders, to apply for forgiveness directly through the SBA.
The new forgiveness platform began accepting applications from borrowers last week.
Lenders are required to opt in to this program via 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 forgiveness applications. Borrowers that need assistance or have questions should call 877-552-2692, Monday through Friday, from 8 a.m. to 8 p.m.