SBA looks at ‘totality’ of borrower’s circumstances when determining need

The Small Business Administration has provided more clarity on the information requested of some PPP loan borrowers in a Loan Necessity Questionnaire. The SBA released this month PPP FAQ 53, which clarifies that the information provided on the questionnaire will help the SBA assess whether PPP loan borrowers’ certification – as required by the CARES […]
SBA revises the PPP loan forgiveness application

On June 17th, the SBA, in consultation with the Treasury Department, issued a revised, “borrower-friendly” Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020. In addition to revising the full forgiveness application, SBA also published a new EZ version of […]