PPP Loan Forgiveness

One of the most beneficial aspects of the PPP loan program is the opportunity to have 100% of the loan, and any accrued interest, forgiven.  The result is that the borrower has received a TAX-FREE GRANT FROM THE SBA.

Any amount of the loan that is not forgiven must be repaid by the borrower plus interest over an approximately 8-month period, if the loan was made before June 5, 2020, or approximately a 3.5-year period if the loan was made after June 5, 2020.

SBA Has Opened a Borrower Direct Forgiveness Portal

The SBA has opened a direct forgiveness portal.  The URL is:


The direct forgiveness portal has a number of advantages for borrowers with loans of $150,000 and under, including:

  1. Easy-to-use, pre-populated online form
  2. Immediate feedback of issues
  3. Ability to check on status of forgiveness applications
  4. Ability to download Certificate that forgiveness has been granted once approved (we think this feature will be available for borrowers that have already had forgiveness approved)
  5. For a Second Draw loan, ability to use same registration to create and submit forgiveness application.
  6. Second Draw loans may not have to upload documentation on 25% revenue reduction if your business has been scored by SBA as no documents required.
  7. Borrower telephone support directly by the SBA from 8 am to 8 pm ET, M-F, at (877) 552-2692.

To use the direct forgiveness portal, your lender must have “opted in” for its borrowers to use the portal.  All of the lenders supported by PPP-Apply have opted in for the benefit of their borrowers.

As a result of these advantages, PPP-Apply will no longer accept forgiveness applications, except in the following conditions:

  1. The PPP loan is more than $150,000.
  2. There is an issue in submitting the application through the direct portal and the SBA has directed the borrower to apply through the lender.

If you have any questions about using the direct forgiveness portal, please visit:


The SBA has an excellent User Guide that you can download with links to FAQs.

If you have other questions about forgiveness, except for the status of your forgiveness application, please email:


Please provide your name and the full name and telephone number of the borrower and our tracking number or SBA loan number, if you know them.

We are required to have a written record of correspondence with borrowers.  As a result, we do not provide information about loans or forgiveness by telephone.

IMPORTANT:  If you do not apply for and have forgiveness approved by the SBA, you will have to start repaying the PPP loan approximately 16 months after the date the loan was disbursed.  That is in September 2021 for borrowers that received a loan in April 2020.

Downloading the SBA 3508S Form

If we have directed you to download and complete the SBA for 3508S, you may do so by clicking on the link below.  Do this ONLY if we have directed you to do so - otherwise, use the direct forgiveness link above.

Please be careful when completing the form - initial in each place required and sign, scan, and attach and return to pppforgiveness@paymentsecurity.net.   If you make errors in this form, it will be rejected and the SBA will not accept the application for forgiveness.