This notice is for those who have not requested forgiveness nor begun repayment of a pandemic Paycheck Protection Program (PPP) Forgivable Loan or Economic Injury Disaster Loan (EIDL).

If borrowers have not begun payment or requested forgiveness, the loan balance could be referred to the Treasury for collection. A referral to the Treasury Department will result in a significant fee being added to your loan, as well as garnishment of future wages, Social Security benefits and tax refunds. Defaulting on a government loan could severely impact credit and is very difficult to remedy.

For more information visit the Small Business Administration’s PPP Direct Forgiveness Portal at directforgiveness.sba.gov or call (877) 522-2692. If you received a PPP loan and think it might have been forgiven (but aren’t sure), it’s important to check. Something in writing should have been received from your lender. For EIDL loans, contact (833) 853-5638 or COVIDEIDLServicing@sba.gov. If you are unable to pay, you NEED to contact the SBA to arrange a Hardship Accommodation Plan.