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.Initial debt relief assistance. Create an account in the MySBA Loan Portal (lending.sba. Gov) to monitor your loan status or to make payments. These advances are treated as grants, so no forgiveness application is required. Borrowers have up to 5years from the origination of the loan to request forgiveness. A business may qualify for both an EIDL and a physical disaster loan. Paycheck Protection Program (PPP) loan forgiveness PPP is closed. SBA will grant a 60-day grace period for borrowers who still need to repay their EIDL loan or apply for PPP loan forgiveness.