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Paycheck Protection Program - 2021 Loans
Loans less than $150,000
Good News!
The SBA has simplified the forgiveness process for 2021 PPP loans with balances of less than $150,000. Unlike the past PPP forgiveness process, the upcoming process is completed by the borrower directly with the Small Business Administration (SBA).
Act now if you have used all your funds. Take time to apply for forgiveness.
Below outlines the steps:
Step 1: Access the SBA PPP Direct Forgiveness Portal at:
https://directforgiveness.sba.gov
Step 2: Register on the SBA portal (recommended browsers are MS Edge or Google Chrome). If this is your first time accessing the site, click the blue box “Register to Start Your Request” . The log in process requires two-factor authentication requiring your mobile number during registration process.
Step 3: Review the PPP Direct Forgiveness Platform User Guide. It will walk you through the forgiveness process step-by-step. If you need assistance, please contact the SBA PPP Direct Forgiveness customer service at 877-552-2692. The user guide is accessed from the same website listed above
Step 4: Once you are registered, log in to begin the forgiveness process.
Hometown Bank understands this is an unfamiliar process. Should you have questions, we recommend starting with SBA PPP Direct Forgiveness customer service at 877-552-2692. We are here to provide additional support too. Feel free to reach out to Melissa Lane, Senior Vice President Credit Officer, at (920) 907-6515 for additional needs.
