--- title: Don't Wait for Congress to Pass a Bill on PPP Loan Forgiveness description: PPP loan borrowers are ready for forgiveness. Don't wait to apply, our portal streamlines the whole process for you. Let’s get started! Learn more...  image: https://blog.epicriver.com/hubfs/congress.jpg --- [![Epic River](https://blog.epicriver.com/hs-fs/hubfs/color-transparent-logo.png?width=320&name=color-transparent-logo.png "Epic River")](http://www.epicriver.com/home) - [Home](https://www.epicriver.com/) - [About](https://www.epicriver.com/about) - [Our Solution](https://www.epicriver.com/) - [News](https://epicriver.com/#) - [Contact](https://www.epicriver.com/) - [Support](https://knowledge.epicriver.com/knowledge/kb-tickets/new) - [Knowledgebase](https://knowledge.epicriver.com/knowledge) ![blog_bg-2023-1](https://blog.epicriver.com/hubfs/blog_bg-2023-1.png "blog_bg-2023-1") # Don't Wait for Congress to Pass a Bill on PPP Loan Forgiveness Posted by [Jeff Grobaski](https://blog.epicriver.com/author/jeff-grobaski) | Aug 18, 2020, 7:05:11 PM - [Tweet](https://twitter.com/share) ![](https://blog.epicriver.com/hubfs/congress.jpg) Waiting to see what Congress does about **PPP loan forgiveness** is a risky choice for financial institutions. Large banks and credit unions are already communicating with their borrowers about how to prepare for loan forgiveness and are going to start processing applications in a couple of weeks.  Borrowers are getting impatient -- and there will be tax implications for carrying loans into 2021. The SBA is ready, your borrowers are ready, we have a portal to [streamline the whole process for you](https://info.epicriver.com/ppp-forgiveness). [Let’s get started](https://meetings.hubspot.com/ddavis7?utm_campaign=PPP%20Marketing&utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz--D3pC6DDyaBrGD9ppuDO1e7bWyO4qc8Fp6do9XTEFAnE0uEgqNqyk-rs_rrjYnt-75SM4c).  ### **Borrower Bliss** Hoping and praying for PPP loan forgiveness is leaving many borrowers on edge. Businesses that have adhered to the loan provisions are eager to see that loan come off their bank statement. Now that the money is gone, many companies want to complete the[3508](https://www.sba.gov/sites/default/files/2020-05/3245-0407%20SBA%20Form%203508%20PPP%20Forgiveness%20Application.pdf) or[3508EZ](https://home.treasury.gov/system/files/136/PPP-Forgiveness-Application-3508EZ.pdf) form rather than wait for (*possible*) auto-forgiveness. Processing these loans for forgiveness now, is a sure-fire way to bring a little bliss to these borrowers.  ### **Stimulus and Sales** Lenders tempted to wait on direction from Congress regarding PPP loan forgiveness should consider the following: - Still in the throes of COVID-19, many businesses are struggling to survive -- including those that were granted PPP loans. - With the possibility of a second round of PPP stimulus, it’s likely that businesses won’t be eligible without first applying for forgiveness of the original loan. - With a lack of clarity from both the[SBA](https://www.sba.gov/) and[Treasury Department](https://home.treasury.gov/) regarding forgiveness, borrowers looking to sell businesses with PPP loans on the books may be out of luck.   Applying now, through[Epic River’s loan forgiveness portal](https://info.epicriver.com/ppp-forgiveness), puts borrowers in a better position regardless of the scenario. ### **Plan for Success** Even if Congress passes PPP loan auto-forgiveness legislation, chances are, it only forgives loans for lower amounts. As such, financial institutions must be ready to assist those borrowers who don’t qualify. Putting a process in place now to handle larger loans, leaves more time to review and submit mistake-free forgiveness applications. ### **Customer Care** Financial institutions care about and cater to the needs of their communities. Right now, lenders all over the nation are ensuring that businesses are maintaining cash flow, providing a lifeline to customers and their families. [Epic River's electronic loan closing platform](https://info.epicriver.com/ppp-forgiveness) -- now includes PPP Loan Forgiveness -- and is in use at more than 1,500 banks, nationwide. Built from decades of loan application, document exchange, and e-sign experience, Epic River’s SBA Loan Forgiveness workflow includes: - Easy step-by-step walk-through of SBA Forgiveness Application - Intelligent document preparation and SBA submission - Supports both the 3508EZ and full 3508 forms  - Automated request and storage of supporting documentation - E-sign SBA forms as well as any supporting custom documents  - Loan presentation for legal review and diligence - Secure long-term storage of loan data, e-signed SBA application form, and supporting documents Paycheck Protection Program Loan forgiveness requirements are complicated, but we’re here to help you navigate the process.  Don’t wait. The SBA is ready, borrowers are ready, and Epic River is ready. Request a[demo of our PPP loan forgiveness portal](https://info.epicriver.com/ppp-forgiveness) today.           Topics: [financial institutions](https://blog.epicriver.com/topic/financial-institutions) #### Written by [Jeff Grobaski](https://blog.epicriver.com/author/jeff-grobaski) ## Leave a Comment ### Recent Posts ### Topics - [Bankadelic (2)](https://blog.epicriver.com/tag/bankadelic) - [banking opportunities (6)](https://blog.epicriver.com/tag/banking-opportunities) - [Blog (5)](https://blog.epicriver.com/tag/blog) - [CRA ratings (1)](https://blog.epicriver.com/tag/cra-ratings) - [Credit Unions (5)](https://blog.epicriver.com/tag/credit-unions) - [DAR (1)](https://blog.epicriver.com/tag/dar) - [esignature services (1)](https://blog.epicriver.com/tag/esignature-services) - [Financial Education (2)](https://blog.epicriver.com/tag/financial-education) - [financial institutions (10)](https://blog.epicriver.com/tag/financial-institutions) - [Health Care Loans (19)](https://blog.epicriver.com/tag/health-care-loans) - [health credit services (6)](https://blog.epicriver.com/tag/health-credit-services) - [health credit services online (11)](https://blog.epicriver.com/tag/health-credit-services-online) - [healthcare administration (4)](https://blog.epicriver.com/tag/healthcare-administration) - [healthcare administrative costs (1)](https://blog.epicriver.com/tag/healthcare-administrative-costs) - [healthcare billing (2)](https://blog.epicriver.com/tag/healthcare-billing) - [healthcare billing solutions (3)](https://blog.epicriver.com/tag/healthcare-billing-solutions) - [healthcare costs (1)](https://blog.epicriver.com/tag/healthcare-costs) - [healthcare finance (6)](https://blog.epicriver.com/tag/healthcare-finance) - [Healthcare Finance Online (13)](https://blog.epicriver.com/tag/healthcare-finance-online) - [healthcare financing (2)](https://blog.epicriver.com/tag/healthcare-financing) - [healthcare lending (3)](https://blog.epicriver.com/tag/healthcare-lending) - [healthcare loans (4)](https://blog.epicriver.com/tag/healthcare-loans) - [hospital financing (3)](https://blog.epicriver.com/tag/hospital-financing) - [Lending as a Service (7)](https://blog.epicriver.com/tag/lending-as-a-service) - [low-interest medical loans (2)](https://blog.epicriver.com/tag/low-interest-medical-loans) - [medical bill financing (2)](https://blog.epicriver.com/tag/medical-bill-financing) - [medical billing (7)](https://blog.epicriver.com/tag/medical-billing) - [medical billing solutions (7)](https://blog.epicriver.com/tag/medical-billing-solutions) - [medical debt (4)](https://blog.epicriver.com/tag/medical-debt) - [medical finance (2)](https://blog.epicriver.com/tag/medical-finance) - [Medical Lending (24)](https://blog.epicriver.com/tag/medical-lending) - [Medical Loan Financing (18)](https://blog.epicriver.com/tag/medical-loan-financing) - [medical loans (7)](https://blog.epicriver.com/tag/medical-loans) - [News (78)](https://blog.epicriver.com/tag/news) - [patient billing solutions (1)](https://blog.epicriver.com/tag/patient-billing-solutions) - [patient financial services (5)](https://blog.epicriver.com/tag/patient-financial-services) - [Patient Financing (26)](https://blog.epicriver.com/tag/patient-financing) - [patient lending (19)](https://blog.epicriver.com/tag/patient-lending) - [patient loans (3)](https://blog.epicriver.com/tag/patient-loans) - [patient responsibility (3)](https://blog.epicriver.com/tag/patient-responsibility) - [patient satisfaction (1)](https://blog.epicriver.com/tag/patient-satisfaction) - [Podcast Feature (3)](https://blog.epicriver.com/tag/podcast-feature) - [price transparency (1)](https://blog.epicriver.com/tag/price-transparency) - [reduce DAR (2)](https://blog.epicriver.com/tag/reduce-dar) - [revenue cycle management for physicians (2)](https://blog.epicriver.com/tag/revenue-cycle-management-for-physicians) - [Team (1)](https://blog.epicriver.com/tag/team) see all ### Subscribe #### About Us Our commitment to utilize the lowest cost of capital and remove all unnecessary overhead from the loan process enables us to help everyone make the best possible financial decision when borrowing money. #### Latest Blog Posts #### Contact Us 242 Linden Street Fort Collins, CO 80524 Phone: (970) 292-5045 Email: info@epicriver.com © 2020 Epic River - - -