The U.S. Small Business Administration is launching a new application portal to allow borrowers with Paycheck Protection Program, or PPP loans of $150,000 or less through participating lenders to apply for forgiveness directly through the SBA.
The new forgiveness platform will begin accepting applications from borrowers on August 4th.
Lenders are required to opt-in to this program at forgiveness.sba.gov
In the four-state region that includes Kansas, Missouri, Iowa, and Nebraska, there are 867 lenders already signed up to use the new forgiveness portal.
Those lenders completed nearly 217,000 PPP loans under $150,000, representing over $4.6 billion dollars of PPP loans.
In addition to the technology platform, the SBA is putting together a PPP customer service team to answer questions, and directly assist borrowers with their forgiveness applications.
Borrowers that need assistance or have questions can call (877) 552-2692.