New Changes for PPP and COVID EIDL Defaulted Borrowers

The U.S. Small Business Administration (SBA) is now referring defaulted PPP and COVID EIDL borrowers to the U.S. Treasury Department and the Internal Revenue Service for collection on defaulted loans. Such borrowers may face significant consequences, including negative impact on credit scores; withholding of future state and federal tax refunds and any potential federal government funding (such as Social Security); and referral of your loan to private debt collectors to pursue repayment, who may use tactics like wage garnishment. Most PPP borrowers are still eligible for loan forgiveness.

Register to start your request now via the Direct Forgiveness Portal.