This week, we noted in the Morning Report that the SBA will be opening a portal that will let businesses with smaller loans apply for forgiveness through a simplified process. After we published that note, I heard from Jim Kalb, a Morning Report reader and founder of Triad Components Group, that the process had gone smoothly with both of Triad’s two PPP loans: “Last Friday, we applied to our bank for loan forgiveness and yesterday—four working days—we received notice from our bank that our [round two] loan was fully forgiven by the SBA. I realize that we are probably an outlier in terms of speed of funding and forgiveness, but we are a data point nonetheless.”
What’s your experience been applying for forgiveness? Have you run into issues? Have you learned anything that others should know?
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