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.Principal and interest payments on the EIDL can be deferred for the first year. The deadline to apply for an EIDL loan is currently December 31, 2021. As of January 1, 2022, SBA stopped accepting applications for new COVID-19 EIDL loans or advances. Identify the borrower. Who qualifies for an Economic Injury Disaster Loan? This is a blog on how to apply for Program Protection Program (PPP) loan forgiveness Form 3508S for self-employed individuals with no employees. Ask your lender if they use the SBA forgiveness forms or an online version of those forms. The EIDL provides access to a low-interest rate loan in light of the pandemic.