Are you a Paycheck Protection Program (PPP) borrower? SBA recently announced a goodwill exception period for defaulted loans that extends the original application deadline through March 3rd so more business owners with loans under $100,000 can apply for loan forgiveness.

Borrowers who have not applied for PPP loan forgiveness for each of their loans by March 3rd, 2024 may accrue non-forgivable interest and fees as well as other collection efforts.

Many borrowers can apply for PPP forgiveness directly through the PPP direct forgiveness page. The application takes less than 15 minutes and does not require extensive documentation. If your PPP forgiveness application cannot be submitted through the portal, has not been approved yet or you do not know its status, visit www.sba.gov/pppforgiveness (en español: www.sba.gov/condonacionppp) to learn more or contact the SBA at 877-552-2692 from Monday–Friday, 8 a.m. - 8 p.m. ET. 

This communication is not intended to collect outstanding debts from individuals or entities currently undergoing bankruptcy proceedings.

Press Release: Small Business Administration Announces Further Action to Help PPP and COVID
EIDL Borrowers | U.S. Small Business Administration (sba.gov)