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.Create an account in the MySBA Loan Portal (lending.sba. Gov) to monitor your loan status or to make payments. Today I'm excited to share some news that I got directly from the SBA. They emailed me the offer in compromise application for EIDL loans. Unfortunately, there is no current program for complete EIDL loan forgiveness. EIDL loans are not forgiven like PPP loans, so businesses are required to repay them.