Are Your PPP Loans Forgiven?
Although it is too late to take out a Paycheck Protection Program (PPP) loan, now is the time to apply to have your loan forgiven.
The process to receive a refund on your PPP loan is outlined here on the Small Business Administration (SBA) website. SBA has launched a streamlined application portal for borrowers with loans of $150,000 or less, and you can read more details in this NAHBNow post.
Borrowers who need assistance or have questions should call 877-552-2692, Monday–Friday, 8 a.m.-8 p.m. ET.
Loans to HBAs can be forgiven as well, thanks to NAHB's efforts in working with Congress to include 501(c)(6) organizations as being eligible to receive PPP funding. Just as with any other business that received PPP loans, these loans can be forgiven if used for payroll, rent/mortgage, utilities and other qualifying expenses.
Some key points to note on the PPP loan forgiveness:
- Your loans can be forgiven in full if the funds were spent on qualifying expenses such as payroll, rent/mortgage and utilities.
- You either apply to SBA directly or work with your lender to obtain PPP loan forgiveness.
- If your loan is less than $150,000, generally speaking you go through the portal. If your loan is greater than $150,000, work with your lender directly.
- SBA allows for filing for forgiveness anywhere between 2 to 5 years after the loan was received. However, to take advantage of a successful lawsuit filed by NAHB, members are advised to file for forgiveness immediately to avoid any possible changes to the process.
If you have trouble with either process, let NAHB know by contacting Amy Chai.
Latest from NAHBNow
Economics
Apr 27, 2026
Population Growth and Housing Supply Dynamics at the County LevelU.S. population growth slowed notably in the latest population estimates from the U.S. Census Bureau, with the nation expanding by just 0.5% in 2025, roughly half the pace of the prior year.
Economics
Apr 27, 2026
Housing’s ‘Silver Tsunami’ Is Coming, But It Won’t Hit Every MarketThe so-called “silver tsunami” describes the wave of millions of homes expected to hit the market as older Americans increasingly decide to sell their properties. However, industry experts are noting that this “tsunami” isn’t landing where it’s needed most.
Latest Economic News
Economics
Apr 23, 2026
The Silver Tsunami Isn’t Landing Where It’s Needed MostThe “silver tsunami” refers to the wave of housing inventory expected as older homeowners downsize or transition out of their homes. According to the latest American Community Survey, there are an estimated 61.2 million people in the U.S. aged 65 years or older, representing about 18% of the population.
Economics
Apr 22, 2026
State-Level Employment Situation: February 2026February’s labor market data point to a notable pullback in employment, with job losses concentrated across a majority of states and only modest gains elsewhere. While January showed solid momentum, February’s decline reflects emerging softness in hiring conditions, alongside uneven performance across the country.
Economics
Apr 21, 2026
Population Growth and Housing Supply Dynamics at the County Level in 2025U.S. population growth slowed notably in the latest Vintage 2025 population estimates from the U.S. Census Bureau, with the nation expanding by just 0.5% in 2025, roughly half the pace of the prior year. The deceleration was primarily driven by a sharp decline in net international migration (NIM), which dropped from 2.7 million to 1.3 million, while natural change remained relatively stable.