Borrowers can apply for forgiveness any time up to five years from the date that SBA issued the SBA loan number. Borrowers may be eligible for Paycheck Protection Program (PPP) loan forgiveness.Learn more about PPP loan forgiveness. Borrowers may be eligible for loan forgiveness. Visit SBA Loan Forgiveness to learn more about PPP loan forgiveness for first draw and second draw loans. The U.S. Small Business Administration released a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application. Once completed, you will have your unofficial forgiveness amount on Line 11. Thank you for visiting our step-by-step guide to completing the Paycheck Protection Program (PPP) Loan Forgiveness Application for Borrowers. Gov website belongs to an official government organization in the United States. Further guidelines for the Paycheck Program Protection Loan Forgiveness application process are expected in the upcoming weeks.