The U.S. Small Business Administration 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.
“We are very excited about the new PPP portal for our businesses and lenders. In Utah, we have approved over 62,000 PPP loans under $150,000. This new portal will make it easier for Utah business owners to get their forgiveness quickly and turn their focus back to what they do best, running their business,” said Marla Trollan, SBA Utah District Director. “The portal will also free up the time for some of our lenders which will allow them to focus on and speed up the process for those with larger loans.”
This new change will help rush relief to over 6.5 million smallest of small businesses which has been the Administration’s priority since day one. The new forgiveness platform will begin accepting applications from borrowers on August 4th 2021. In addition to the technology platform, the SBA is establishing 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 – Friday, 8 a.m. – 8 p.m. EST.