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. Credit History Applicants must have a credit history acceptable to SBA. • Repayment – Applicants must show the ability to repay the loan. After registration, you may use this streamlined process to automatically submit your forgiveness request to your lender. SBA can provide loans to help cover the costs and expenses that your business would have been able to handle if the disaster did not happen. As of January 1, 2022, SBA stopped accepting applications for new COVID-19 EIDL loans or advances.