You have the right to appeal certain SBA loan review decisions. Your lender is responsible for notifying you of the forgiveness amount paid by SBA and the date on which your first payment will be due, if applicable. Borrowers who need assistance with direct forgiveness can contact SBA at our dedicated forgiveness call center: ;As of August 10, Lenders can begin submitting Loan Forgiveness Applications to the SBA. •Once the Loan Forgiveness Application is received, the Lender has 60 days to submit a decision to the SBA, using the SBA’s Payroll Protection Forgiveness Platform. •The SBA has 90 days to make a decision and remit the forgiveness funds to the ;· The SBA initially gave self-employed workers a run for their money when it came to loan forgiveness, but new changes to the PPP loan program make it easy for sole proprietors to calculate their forgiveness ;· This new SBA PPP loan forgiveness portal makes the PPP loan forgiveness application for self-employed faster. If you cannot apply for PPP forgiveness as an independent contractor via the new SBA PPP forgiveness portal then you are going to have to apply for PPP loan forgiveness for self-employed via the bank or lender that provided your PPP loan ;· This article now contains the latest PPP loan forgiveness updates from the Small Business Administration (SBA) and Treasury Department, released on January 19, 2021. The latest changes apply to loans of $150,000 or less—the maximum loan amount for most sole proprietors, independent contractors, and self-employed Loans for Independent Contractors and Self Employed A Complete Guide to PPP Loan Forgiveness for the Self PPP loan forgiveness - SBAPPP loan forgiveness - SBA04/05/2021 · Yes, self-employed workers qualify for SBA loans. The loan amount calculation is different, but most other requirements, spending uses, and forgiveness criteria still apply. Many traditional banks are only looking to lend large amounts to more established businesses, so you may need to look at alternative and online you're a sole proprietor or self-employed, apply for PPP loan forgiveness directly through the SBA at or by submitting Form 3508S, 3508EZ or 3508 to your lender.

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