After the confusion of the first Paycheck Protection Program (PPP) Loan Forgiveness process, there is hope! The Small Business Administration (SBA) announced a new portal for borrowers of $150,000 or less in the second round of PPP loans which allows borrowers to apply directly to the SBA for forgiveness. Lenders must opt-in for borrowers to be able to take advantage of this new option.
The new platform will begin accepting applications on August 4th, 2021. There will also be a new SBA customer service team dedicated to assist borrowers with the new forgiveness process.
We can help! Contact us to talk more about PPP2 loan forgiveness and how we can help your business thrive!
All questions regarding these tax changes or others that may affect your taxes can be addressed to:
Adam Hines, Principal
513-620-7129 or email@example.com
John Michel, Member
513-873-1307 or firstname.lastname@example.org
Robyn Mitchell, Experienced Tax Manager