All borrowers, regardless of loan size, can use SBA's direct forgiveness portal. Applying for forgiveness using the portal can take as little as 15 minutes.Create an account in the MySBA Loan Portal (lending.sba. Gov) to monitor your loan status or to make payments. The Finance Center can assist you to complete your forgiveness application and provide you a list of documents that should assist with getting forgiven. It will be forgiven if the loan application is denied. PPP loan forgiveness Borrowers may be eligible for Paycheck Protection Program (PPP) loan forgiveness . Unlike PPP loans, EIDL funds were not eligible for forgiveness. Repayment Applicants must show the ability to repay the loan. However, EIDL loans were specifically earmarked to be used for the business.