Paycheck Protection Program (PPP) Updates

Paycheck Protection Program (PPP) Updates

Public listing of loans: Per a new court order, the SBA is required to publicly list all PPP loans and loan dollar amounts. Right now, loans are only public by borrower name for loans above $150,000, and those loans are reported in bands ($150,000 to $300,000). Unless appealed, loans of all sizes will be public by borrower and by dollar amount. PPP borrowers may want to know this data could be publicized in a matter of weeks.

Questionnaire for loans above $2 M: SBA issued a new questionnaire for loans of greater than $2M. Per guidance issued this summer, all loans above that amount will be audited before forgiven. This form is part of that. The form for nonprofits is linked. We are reviewing and will post analysis in coming days. https://www.venable.com/-/media/files/publications/2020/11/sba-nonprofit-economic-need-questionnaire.pdf

 

Questions?

Contact:

David Carter | Director, Health Care Finance & Policy

C 360.888.5702

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