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There are now two ways to apply for forgiveness of PPP loans.
- Direct Forgiveness through the SBA:
INB is participating in Direct Forgiveness through the SBA. The SBA has indicated that the portal is quick and easy to use and forgiveness applications could take as little as 3-5 minutes to complete.
After August 4, 2021 the portal can be accessed at https://directforgiveness.sba.gov/.
Direct Forgiveness is reserved for those PPP borrowers whose loans are $150,000 or less. A PDF with detailed instructions for the portal can be found by accessing that link.
If your loan is for more than $150,000 or you choose not to use Direct Forgiveness, you can access INB’s portal at https://inb.lenderscooperative.com/.
This is the same portal that was used for origination. You will first log-in on the right hand side and then Start a New Forgiveness Application under the PPP Forgiveness Applications tab.
The portal will walk you through the forgiveness process and complete the appropriate form.
* Loans of $150,000 or less can and should utilize the Streamlined 3508S Process.
* Loans greater than $150,000 should use the Streamlined 3508 EZ Process, if possible, or the 3508 Full Process.
To reference or preview the instructions related to forgiveness, click the link for the applicable Forgiveness Forms and Instructions.
Thank you again for entrusting us to be your business partner. We are here to help you; please call us with any questions about the PPP program at 217-747-5500.