PPP Loan Forgiveness

Portal streamlines applications for loans $150K or less for over 6.5 million businesses
 

SBA Paycheck Protection Program Direct Forgiveness Portal

WASHINGTON – The U.S. Small Business Administration (SBA) is launching a streamlined application portal to allow borrowers with Paycheck Protection Program (PPP) 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,” said Administrator Isabel Casillas Guzman.  “The vast majority of businesses waiting for forgiveness have loans under $150,000. These entrepreneurs are busy running their businesses and are challenged by an overly complicated forgiveness process. We need to deliver forgiveness more efficiently so they can get back to enlivening our Main Streets, sustaining our neighborhoods and fueling our nation’s economy.”
 
This new change will help rush relief to over 6.5 million smallest of small businesses which has been the Administrator’s priority since day one. The new forgiveness platform began accepting applications from borrowers on August 4th, 2021.

Borrowers that need assistance or have questions should call the SBA at (877) 552-2692, Monday – Friday, 8 a.m. - 8 p.m. EST.

To apply for forgiveness, please go to the:

SBA Direct Forgiveness Portal

Patriot Bank is a full-service financial institution with branches in the Connecticut counties of Fairfield and New Haven, as well as in Scarsdale, New York.