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. As of January 1, 2022, SBA stopped accepting applications for new COVID-19 EIDL loans or advances. Paycheck Protection Program. PPP Loan Forgiveness Application Form 3508EZ. A business may qualify for both an EIDL and a physical disaster loan. Create an account in the MySBA Loan Portal (lending.sba. Gov) to monitor your loan status or to make payments.