PPP Loan Help Center
Information and resources for borrowers
A Partner for PPP Borrowers:
Lendistry is here to help support small business borrowers on their PPP loan forgiveness and/or pay-off journeys every step of the way. Didn’t apply for PPP through Lendistry? We acquired the Kabbage, Inc. d/b/a K-Servicing PPP loan portfolio in April 2023, and are providing each borrower with the same level of service as they seek forgiveness and move forward.
What is the Timeframe to Apply Directly for Forgiveness of Your PPP Loan?
Borrowers can apply for forgiveness any time up to the maturity date of the loan. However, the deferment on PPP loans has ended and loan payments have begun if forgiveness applications have not yet been received. The SBA has streamlined the forgiveness process for PPP Borrowers with an original loan amount $150,000 or less, to apply through the SBA PPP Direct Forgiveness Portal. Eligible borrowers should follow these steps as soon as possible:
- Register on the SBA PPP Direct Forgiveness Portal and verify your information.
- Complete the application and electronically sign, which will notify Lendistry the application has been submitted.
- Monitor emails and respond promptly to any requests from Lendistry and/or the SBA.
- The SBA will review and inform you when a decision has been made or more information is needed on your PPP loan forgiveness application.
Currently Awaiting Approval of Your Forgiveness Application?
If you submitted your application for forgiveness on the SBA direct website, monitor your email inbox as the SBA may: 1) Notify you of any outstanding action items, which you will want to address as soon as possible. 2) Notify you that a decision has been made on your PPP loan forgiveness request. After the forgiveness decision has been made by the SBA, Lendistry may contact you with next steps.
Is your PPP Loan in Repayment?
If you received partial forgiveness, were denied forgiveness, or choose not to submit an application for forgiveness, your PPP loan will go into repayment over the remaining term of your loan. Lendistry will debit payments via Automated Clearing House (ACH) on the due date. If you are new to Lendistry, monitor your email inbox for a request via DocuSign to complete the necessary ACH Authorization so your payment can be debited by Lendistry.
Forgiveness Resources & Contact Information
Contact our call center: 888-436-5468
Hours: Monday-Friday 8:00am – 10:00pm ET
Saturday 10:00am – 7:00pm ET
Closed on all Federal holidays.
Lendistry is also closed the day after Thanksgiving.
Frequently Asked Questions
What is the criteria for PPP loan forgiveness?
PPP loan borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either the 8- or 24-week period after disbursement.
When do I need to apply for forgiveness by?
What information and documentation will I need to submit for my PPP loan forgiveness application?
If I already started making payments or paid off my PPP loan, but never applied for forgiveness am I still eligible to apply?
How do I check the status of my forgiveness application?
You can login through the SBA Direct PPP Portal or email an inquiry including your name and loan number to [email protected], or you can call the SBA office at 877-552-2692 from Monday through Friday, 8:00 a.m. to 5:00 p.m. ET.