PPP Forgiveness Portal Opens to Business Owners
Post date
August 06, 2021
Body
Emma Liem Beckett, Construction Dive
The U.S. Small Business Administration is opening a streamlined application portal that will allow businesses with Paycheck Protection Program loans of $150,000 or less to apply for forgiveness directly.
By giving contractors a direct line to the SBA to submit forgiveness applications, rather than relying on banks as intermediaries, construction firm owners around the country could learn of their loan's status more quickly. This could be crucial to the financial health of many firms as the industry contends with rising inflation, supply chain disruption and historic labor pressure.