SBA 7(a) Loans up to $500k Now Available

Simple Journey

Before You Start

Before you begin, take a look at our Before You Start Guide for additional information on completing your PPP Forgiveness Application.

1. Navigate to Forgiveness

Within the dashboard, simply select the business you’d like to begin your PPP forgiveness application for.

Navigate to the correct loan and select the Go to Forgiveness Portal button.

If your loan is $150,000 or less.

You qualify for the new Form 3508S. Our platform has been updated to accept the SBA’s Revised Form 3508S, which is a one-page attestation that removes the requirement to submit documentation to us for your forgiveness application!

Simply access the portal and complete the updated journey and your application will be automatically converted to the new Form for submission.

2. Enter Your PPP Loan Information

Complete the form by entering the information of your forgiveness request, matching details to your final loan application. Continue by clicking the next arrow.

3. Enter Your Business Information

Enter the information for your business and click the next arrow.

4. Calculating Forgiveness Eligibility

The revised journey significantly reduces the complexities of PPP forgiveness and requires only that the borrower provide their PPP Loan Amount, Forgiveness Amount and Amount Spent on Payroll Costs.

5. Documentation of Revenue Decline

On forgiveness applications for 2nd Draw PPP loans, you may be asked to provide documentation of a required revenue decline. Such documentation would include tax returns, financial statements, bank statements or other documents evidencing a revenue decline of 25% or more in 2020 vs. 2019 or any calendar quarter in 2020 relative to the same calendar quarter in 2019.

6. Submitting the Form

This is the last step! No need for documents with the Simple Form.

7. Confirmation

You will see a message asking you to confirm your submission. If you are ready to submit, click ok.

8. Understanding My Application Status

For a guidance on checking the status of your application, including definitions for each possible status, click here.

If the status of your application is listed as “Borrower Action Required” here is a guide to helping you resubmit your application.

To qualify for an SBA 7(a) small business loan, your business must be:

  1. U.S.-based and operated
  2. Owner supported / owner funded
  3. Eligible per the SBA’s requirements

Your loan amount will determined by the business’ average annual revenue, FICO score, and years in business