SBA ISSUES UPDATE GUIDANCE ON PPP LOANS AND FORGIVENESS

Covid 19 Blog Patrick A Clisham

May 13, 2020

The Small Business Association (SBA) released today a number of clarifications regarding the recent Paycheck Protection Program (PPP).  The forty-six question and answer responses address many of the process and forgiveness questions that have been on the minds of borrowers and lenders alike since the program launched on April 3rd.  Topics range from good faith certification and auditing to signature requirements and authorization documents.  Details can be found at this link.

About the author:  Patrick Clisham assists clients in all aspects of chapter 11 reorganizations, out of court restructurings, asset acquisitions and sales, lease negotiations and enforcement, and business transactions.  [email protected] | 602.222.4968

Disclaimer: This article is not legal advice and is only for general, non-specific informational purposes. It is not intended to cover all the issues related to the topic discussed. If you have a legal matter, the specific facts that apply to you may require legal knowledge not addressed by this article. If you need legal advice, consult with a lawyer.