Small Business Administration (SBA)
Paycheck Protection Program (PPP)
Update on Loan Forgiveness
Page Last Updated: 8/30/2021
Please note, there are different forgiveness processes depending on your PPP loan amount.
New SBA Forgiveness Portal for First and Second Draw Loans of $150,000 or Less
A new and easy-to-use portal from the SBA is available to streamline loan forgiveness for first and second draw PPP loans of $150,000 or less.
The SBA portal can:
- Allow you to connect directly with the SBA
- Potentially expedite the forgiveness process
- Provide the status of your forgiveness application
REGISTER OR LOG INTO THE SBA PPP DIRECT FORGIVENESS PORTAL
Resources
First and Second Draw Loans Above $150,000
The SBA direct forgiveness platform is not available for PPP loans above $150,000. Vantage West Business Banking will directly contact borrowers with PPP loans above $150,000 prior to 10/31/21 to start your forgiveness process.
Disclosures
Application:
Legal Disclaimer: All applications for a SBA PPP loan are subject to credit approval, supporting payroll records, and tax documents for Vantage West to verify the dollar amount of average monthly payroll costs, Vantage West program and underwriting guidelines, and other SBA requirements in Vantage West’s absolute discretion. The PPP is first-come, first-served SBA sponsored program. Vantage West makes no guarantee that by submitting an application to Vantage West that any application will be processed, reviewed, or approved. Applicant will hold Vantage West harmless from any and all actions, claims, or disputes in connection with the SBA PPP, application, and in any way connected with Vantage West’s approval or non-approval of Applicant’s request. Vantage West will calculate the eligible loan amount using Borrower’s tax documents which Borrower certifies are identical to those submitted to the IRS.
Forgiveness:
Legal Disclaimer: We will periodically update this information; Members are responsible for checking and understanding updates to this page throughout the forgiveness process. In the event of any discrepancies between the information on this site and the SBA’s site, please follow the official SBA guidance.
