It has just been announced this week that on August 4, 2021, the Small Business Administration (SBA) will begin accepting applications to participate in a new forgiveness platform utilizing a streamlined application portal.  

This is good news for companies that borrowed $150,000 or less from a participating PPP lender as they will now be able to apply for forgiveness directly through the SBA with a goal of speeding up the process of obtaining forgiveness. 

Beginning in 2020 with the launch of PPP, the SBA and local lenders across the country have provided nearly 12 million loans amounting to close to $800 billion in economic relief. Since most of these loans were distributed to small businesses that borrowed less than $150,000, the new technology platform and the creation of a PPP customer service team will enable borrowers to get assistance much more efficiently and quickly. For those business leaders who have questions can call (877) 552-2692, Monday – Friday, 8 a.m. - 8 p.m. EST. 

Please free to email us as well if you have questions or concerns about processing your forgiveness applications. We can be reached at:

Chris Martin, Member of the Firm in the Accounting and Auditing Practice at SobelCo, has worked closely with mid-sized, privately-held businesses throughout his entire career. He adds value by assisting clients with their financial statement needs, providing strategic planning for their corporate and individual income taxes, and taking an active role in consulting on major financial decisions.  Chris devotes a significant amount of his time specifically in SobelCo’s food and beverage practice where he manages financial statement audits, reviews, compilations, and income taxes for manufacturers, distributors, and supermarket owners in the tri-state area.