If you’ve received a PPP loan to help rebuild your business, did you know it can be fully forgiven? There are terms you have to meet to receive full or partial forgiveness.
Forgiveness is not automatic. You must apply with the bank that funded your PPP loan to process your request. Review these 6 steps to help you prepare.
For more in-depth information about the PPP loan forgiveness process visit this comprehensive article on the SmartBiz Loans Resource Center.
*We conduct a soft credit pull that will not affect your credit score. However, in processing your loan application, the lenders with whom we work will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and happens after your application is in the funding process and matched with a lender who is likely to fund your loan.
The SmartBiz® Small Business Blog and other related communications from SmartBiz Loans® are intended to provide general information on relevant topics for managing small businesses. Be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed. Please consult legal and financial processionals for further information.
