Home Business SBA to Open PPP Forgiveness Loan Portal

SBA to Open PPP Forgiveness Loan Portal

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CHARLOTTESVILLE, Virginia, West Virginia – Small Business Administration will open a new portal August 4th.

This will speed up the loan forgiveness process. This is only for loans of $ 150,000 or less.

Greg McFetridge of the Central Virginia Small Business Development Center says there are more steps for larger loans to make sure the loans are not fraudulent.

“They want to make sure they have all the paperwork to process large loans so that they don’t give them the same easy time as small loans,” he said.

This portal is designed to exclude “intermediaries”, banks, when checking each loan.

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