In the News: PPP Loan Forgiveness Portal Has Over 1 Million Applicants

in-the-news:-ppp-loan-forgiveness-portal-has-over-1-million-applicants

PPP Loan Forgiveness Over 1 Million Applicants

Less than two months after the Small Business Administration (SBA) opened its PPP Loan Forgiveness Portal, it announced over one million small businesses have applied. The portal was designed to simplify the process of applying for the loan forgiveness if a business received less than $150,000. And so far it has delivered on this directive. To date, over $17 billion of relief money has been forgiven with just the portal.

However, the A Million Small Businesses Have Applied for PPP Loan Forgiveness with SBA Portal article, SBA and its Administrator, Isabella Casillas Guzman, wants the millions of small businesses that have yet to apply to do so. This will not only alleviate the financial burden of paying the loan for small business operators, but it will also help the economy grow. With small businesses making up 99.9% of all U.S. businesses, the 31.7 million owners are a huge part of the U.S. economy.

Small Business News – September 27, 2021

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This article, “In the News: PPP Loan Forgiveness Portal Has Over 1 Million Applicants” was first published on Small Business Trends