Small Business Administration has opened its Paycheck Protection Program forgiveness portal. Here’s why many small businesses will have to wait. – masslive.com
Small businesses eager to submit their forgiveness applications for Paycheck Protection Program loans may have to wait. While the Small Business Administration officially opened its forgiveness portal to lenders Aug. 10, many lenders will likely wait, according to banks and experts. That is because the potential for shifting guidance, new legislation and a desire to fully prepare for a flood of applications means banks have little incentive to launch right away.